Siemens Energy successfully concludes tender offer period for Siemens Gamesa minority shareholders

Christian Bruch, CEO of Siemens Energy: “The integration of Siemens Gamesa is an important milestone in our strategy to accompany our customers in the energy transition. The path from a fossil to a more sustainable energy world is only possible with a strong and profitable wind power industry.”

In accordance with Spanish stock exchange law, a delisting of a public corporation requires at least 75% of the capital stock in a voluntary takeover bid; a simple majority is then required for the formal resolution at a General Meeting. SGRE will shortly invite its shareholders to an Extraordinary General Meeting, to take place within the first months of 2023. Delisting is expected to take place shortly thereafter, following an approval of the delisting by CNMV and the stock exchanges in Madrid, Barcelona, Bilbao and Valencia.

Siemens Energy continues to pursue its objective to acquire 100% of the share capital of SGRE and to fully integrate the company. Following the invitation to the Extraordinary General Meeting, investors will have the opportunity to tender their shares to Siemens Energy at the offer price of €18.05 per share for a minimum period of one month.

The transaction is expected to generate annual cost synergies of up to €300 million within three years after full integration. Siemens Energy also expects revenue synergies in the mid three-digit million-euro range by the end of the decade.