There has been speculation about the step for months - now it seems to be coming: The energy company Siemens Energy wants to take action at its subsidiary Gamesa. That's where the problems come into play. The major shareholder also unequivocally expresses his expectations.
Siemens Energy wants to get serious about the long-awaited complete takeover of the Spanish wind power subsidiary Siemens Gamesa. The board of directors of the energy technology group is considering a cash takeover offer for the remaining shares in the problem child, Siemens Energy announced in Munich. The aim is to take Siemens Gamesa off the Madrid Stock Exchange. "The outcome of this consideration is open," the company said. At the current share price, Siemens Energy would have to pay around 3.5 billion euros for this. Siemens Gamesa shares, which were initially suspended from trading, shot up. Siemens Energy papers increased 3.5 percent.
Bloomberg reported that the offer could be made as early as next week and that at most a small price premium is foreseen. The average price target of the analysts is 18 euros. Siemens Energy boss Christian Bruch wants to present his strategy for the next few years at a capital market day on May 24.
Siemens Energy already holds a good two-thirds of the shares in Siemens Gamesa, which after the price jump has a market value of around 10.6 billion euros. A deletion from the list of prices would allow a closer connection to the Spanish subsidiary. It is actually the beacon of hope for the manufacturer of gas and steam turbines, but has been making negative headlines for years with losses, missed profit forecasts and operational problems. There are major teething problems with the new 5.X generation of wind turbines, and Siemens Gamesa is running out of raw material costs, while fixed prices have been agreed with customers in the supply contracts. Now the former Siemens crisis manager Jochen Eickholt is supposed to turn things around.
Siemens Energy's major shareholder Siemens is also putting pressure on it. The Munich technology group wants to reduce its remaining 35 percent stake to 25 percent as quickly as possible, but is hesitant because of the low share price. Siemens CFO Ralf Thomas recently expressed the expectation that Siemens Energy boss Bruch would present drastic measures at the Capital Markets Day: "That will be groundbreaking, we assume that."