Siemens Energy plans to launch the takeover bid for Siemens Gamesa in September and its delisting in November

MADRID, 24 May. (EUROPA PRESS) -

Siemens Energy expects to formally launch the voluntary takeover bid (OPA) for the 32.9% that it does not control of Siemens Gamesa Renewable Energy (SGRE) in mid-September and that the approval of the company's listing on the stock market will occur next November, according to a presentation on the occasion of Siemens Energy's Capital Markets Day.

Once the takeover bid has been formally launched, there will be a period of between four and five weeks for its acceptance or not, after which, in October, the results of the transaction will be presented.

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

Siemens Energy recalls in its presentation that the 18.05 euros per share offered in the takeover bid are higher than the average volume-weighted average price (VWAP) of the last six months, in addition to assuming a premium of 27% over the price per share without disturbances since the beginning of the rumors about the operation, that is, since last May 17.

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.

"The remainder of the transaction would be financed with debt as well as cash," Siemens Energy has detailed.

The German company has also pointed out that the audit firm PwC was hired as an independent evaluator to issue an appraisal report and thus comply with Spanish regulations on exclusion.

Siemens Gamesa's shares in the Spanish selective rebounded yesterday by 6.24% (up to 17.79 per share) on the first trading day after the formulation, last Saturday night, of the takeover bid for Siemens Gamesa.

After 10:30 am on Tuesday, SGRE shares remained around Monday's closing price, with a slight decline of 0.06% (17.78 euros per share).