Friday, 14 February 2020
Siemens AG will acquire all the shares of Siemens Gamesa Renewable Energy (SGRE) held by Iberdrola S.A. The company will purchase Iberdrola’s 8.1 percent stake in SGRE at a share price of €20.00 per share, paying the total amount of €1.1bn.
In addition, Iberdrola, Siemens and SGRE have signed a cooperation agreement that covers certain projects for wind power generation and for improving the distribution grid. For these projects, Iberdrola will grant these companies exclusive negotiation rights for a limited period of time.
As part of the spin-off and subsequent public listing of its Gas and Power business, Siemens will contribute all its shares in SGRE to the new Siemens Ene...