Siemens Energy moves to finance Siemens Gamesa takeover bid

Siemens Energy has raised €960 million to help finance its planned takeover of Siemens Gamesa.

The German giant previously launched a €4 billion takeover bid for Siemens Gamesa Renewable Energy (SGRE), offering to pay €18.05 per share for the 32.9% of the company it does not already own.

The net proceeds from the issuance of these mandatory convertible notes will be used to partially finance the voluntary cash offer for the outstanding shares.

It is unclear how Siemens Energy plans to fund the remainder of the €4 billion it requires.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in