Siemens takes over Iberdrola's stake in Siemens Gamesa

Prior to the establishment of Siemens Energy and amid a legal bout with dissatisfied stakeholders, Siemens buys the Spanish utility's shares in the wind OEM for EUR 1.1 billion.

by MAZ PLECHINGER

Iberdrola is being bought out from its holdings in Siemens Gamesa. German industrial group and majority shareholder Siemens is acquiring the Spanish utility's 8.1-percent stake in the wind turbine maker for EUR 1.1 billion – EUR 20 per share – corresponding to a 32-percent premium based on the share price throughout the last 30 trading days. Siemens is paying the sum from its own capital reserves, the German group informs in a statement.

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