Siemens Energy bids $4.3 bn to buy stake in Siemens Gamesa

FRANKFURT: Siemens Energy has launched a 4.05 billion euro ($4.28 billion) bid for the remaining shares in struggling wind turbine unit Siemens Gamesa, hoping to remove a complex ownership structure that has weighed on its shares. Siemens Energy said the 18.05 euros per share bid constitutes a premium of 27.7% over the last unaffected closing share price of Spanish-listed Siemens Gamesa of 14.13 euros on May 17. It is a 7.8% premium to Friday’s closing price. Siemens Energy has faced mounting shareholder pressure to seek control of Siemens Gamesa (SGRE), in which it owns 67%, a stake it inherited as part of a spin-off from former parent Siemens.