Siemens AG will acquire all the shares of Siemens Gamesa Renewable Energy (SGRE) held by Iberdrola S.A. At its regular meeting today, the Supervisory Board of Siemens AG approved the purchase of Iberdrola’s 8.1% stake in SGRE. The purchase price is €20.00 per share, which corresponds to a 32% premium on top of the average SGRE share price for the last 30 trading days. Siemens will pay the total amount of €1.1 billion from its own resources. All legal disputes between Iberdrola and Siemens will be settled.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. Through the separately managed company Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy, Siemens is also a world-leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. In fiscal 2019, which ended on September 30, 2019, Siemens generated revenue of €86.8 billion and net income of €5.6 billion. At the end of September 2019, the company had around 385,000 employees worldwide. Further information is available on the Internet www.siemens.com.