The CNMV admits for processing the request for the voluntary takeover bid by Siemens Energy for Siemens Gamesa

MADRID, 16 Jun. (EUROPA PRESS) -

The National Securities Market Commission (CNMV) has admitted for processing the request for authorization submitted at the end of May by Siemens Energy to make a voluntary takeover bid (OPA) of shares in Siemens Gamesa.

In a statement, the supervisor indicated that he admits the request for processing "understanding that the prospectus and the other documents presented, after the modifications registered on June 9, are in accordance with the provisions" in the regulations on the bid regime securities acquisition public.

The agency added that the admission to processing of the application "does not imply any pronouncement on the resolution regarding the authorization of the offer, or any of its terms and conditions, which must be produced in accordance with the deadlines and other requirements provided" in the regulations .

On May 21, Siemens Energy announced its intention to launch a voluntary cash takeover bid for all the shares of Siemens Gamesa Renewable Energy (SGRE) that it does not yet own, that is, approximately 32.9% of them, with the intention of delisting it.

Specifically, it will offer 18.05 euros per share. At current market prices, 100% of Siemens Gamesa would be valued at just over 11,279 million euros, so an offer for 33% would exceed 3,722 million euros.

The acquisition financing is fully underwritten by Bank of America and J.P. Morgan and, assuming the offer is fully accepted, Siemens Energy intends to finance up to €2.5 billion of the value of the transaction with equity or similar instruments, while the remaining amount of the transaction would be financed with debt and with the box available.