Norges Bank bursts with 1,781% in Siemens Gamesa amid Siemens Energy takeover bid

MADRID, 25 May. (EUROPA PRESS) -

Norges Bank, the central bank of Norway and in charge of managing the country's sovereign fund, has emerged a 1.781% stake in the shareholding of Siemens Gamesa, according to the records of the National Securities Market Commission (CNMV).

The entry into the capital of the wind turbine manufacturer occurs in full announcement of the voluntary takeover bid (OPA) that Siemens Energy will launch, expected in September, on the 32.9% that it does not control of Gamesa.

Of the total participation, 1.751% corresponds to direct control, that is, shares with attributed voting rights; while the remaining 0.030% corresponds to indirect control.

The Siemens Gamesa share has closed the session this Wednesday at 17.78 euros, so the movement of the Norwegian bank would be around 216 million euros.

Before the notification of this Wednesday, the Norwegian bank did not hold shares in the capital of the wind manufacturer. However, between 2015 and 2017, Norges Bank held positions of more than 3% of Gamesa's shareholding, to reduce its participation to 2.631% in March 2017.

With this new movement, Norges Bank once again appears as the third largest shareholder in Siemens Gamesa, behind BlackRock (3.132%) and Siemens Energy (67.071%).

The latter company plans to formally launch the takeover bid for the capital of Gamesa that it does not control in mid-September, so that the company's listing on the stock market will be approved next November.

Once the offer has been formally launched, at a rate of 18.05 euros per share, there will be a period of between four and five weeks for its acceptance or not, after which, in October, the results of the the transaction.

In this way, Siemens Energy expects to complete the acquisition of the 32.9% that it does not control of Siemens Gamesa for an amount greater than 4,000 million euros by the end of the year.

The financing of the operation is "fully backed" by Bank of America and J.P. Morgan, highlights Siemens Energy, which also emphasizes that in the event of full acceptance of the offer, the German company will finance up to 2,500 million euros of the value of the transaction with capital or similar instruments.