Siemens Gamesa will stop trading on the Spanish stock markets this Tuesday, having settled all the operations of the sustained purchase offer launched by Siemens Energy last December with the same economic conditions as the takeover bid.
Thus, the governing societies of the bags from Madrid, Barcelona, Valencia and Bilbao agreed yesterday that the 681,143,383 shares of Siemens Gamesa Renewable Energy are excluded from trading. The listing of the titles had been suspended since February 7, when the sustained purchase offer ended.
The excluded securities have a nominal value of 0.17 euros each, so the admitted share capital is representative of 115.8 million euros.
In this way, Gamesa is excluded from the markets, although it is not wholly owned by Siemens Energy. The sustained purchase offer was closed a week ago with the acquisition of 34.5 million shares, compared to the 49.6 million that were not owned by Siemens Energy before the start of the operation. This means that the company owns 97.79% of the share capital of Siemens Gamesa.
Three weeks ago, the president of Siemens Gamesa, Christian Bruch, acknowledged at the extraordinary shareholders’ meeting that los financial results of recent years “have not been satisfactory.
However, the executive also stated that the delisting will improve “coordination” between the two companies, which also “It will provide Siemens Gamesa with further support in resolving its financial difficulties.”
Siemens Energy closed its first fiscal quarter, between October and December 2022, with losses of 473 million euros, which meanse triple the negative result of 131 million recorded by the company in the same period of the previous yearweighed down by the losses recorded in Siemens Gamesa Renewable Energy.
Between October and December of last year, Siemens Gamesa Renewable Energy registered ‘red numbers’ of 823 millioncompared to losses of 320 million recorded in the first quarter of its previous fiscal year.