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Siemens Energy negotiating bridge loan for Siemens Gamesa take-over bid

The Germany conglomerate is in talks with Spanish banks regarding temporary credit to finance a full take-over of the wind turbine manufacturer.

Photo: ANDER GILLENEA/AFP / AFP

Siemens Energy has started negotiations with Spanish banks concerning a bridge loan to finance the group’s full acquisition of Siemens Gamesa, reports Bloomberg News referencing media El Confidencial, which has its information from anonymous sources.

A week back, the German conglomerate announced its purchase offer worth more than EUR 4bn to buy remaining equity interest in Siemens Gamesa.

Siemens Energy already holds 67 percent of the OEM but is now seeking full ownership through bidding EUR 18.05 per share.

Wednesday, Siemens Gamesa is trading stable at EUR 17.965 a share, while Siemens Energy’s stock is down 0.3 percent to EUR 17.89.

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