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GCTAY - Siemens Gamesa Might Be Fully Acquired By Siemens Energy Soon
Siemens Gamesa Renewable Energy SA ADR
Siemens AG (SIEGY, SMAWF) will buy Iberdrola SA's (IBDSF, IBDRY) 8.1 percent stake in wind turbine manufacturer Siemens Gamesa Renewable Energy SA (GCTAF, GCTAY). Siemens will pay a price of €1.1 billion, or €20 per share. Once the transaction is completed, it will own 67 percent of the company.
As Siemens intends to spin off its shares of Siemens Gamesa, alongside its Gas and Power division, into a new company called Siemens Energy, I believe that a takeover of the remaining 33 percent of outstanding shares