Siemens Gamesa minority shareholders approved a capital reduction for the remaining 2.21% of shares not held by Siemens Energy in the Extraordinary General Meeting of Shareholders held on June 13, paving the way for a full integration of both companies.
“This is an important step in preparing for full integration. Besides, the turnaround program at Siemens Gamesa, Mistral, needs further rigorous execution, even though we see first moves in the right direction,” said Christian Bruch, CEO and President of Siemens Energy, and Chairman of Siemens Gamesa.
Jochen Eickholt, CEO of Siemens Gamesa, added: “I am pleased that our minority shareholders are supporting our effort to fully integrate Siemens Gamesa into Siemens Energy. We can now further streamline our structures so that we can focus one hundred percent on improving our performance and achieving profitability.”
Siemens Energy announced the tender offer to acquire all remaining shares of Siemens Gamesa in May 2022. The tender offer concluded in December 2022, and following a sustained purchase order, Siemens Energy held around 98% of Siemens Games shares. Siemens Gamesa ceased trading on February 14, 2023. Upon completion of the transaction, Siemens Energy will have spent a total of €4.05 bn to acquire all shares not previously owned. In line with the target to maintain a solid investment grade rating, the transaction has mostly been financed with equity.