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Siemens Energy Says Gamesa Takeover to Speed Problem-Solving

Addressing Gamesa’s supply-chain snarls is top priority: CEO
Siemens Energy makes $4.3 billion offer to buy rest of unit

WATCH: Siemens Energy CEO Christian Bruch says his company will offer $4.3 billion to fully takeover Siemens Gamesa Renewable Energy.Source: Bloomberg

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By Wilfried Eckl-Dorna, Manus Cranny, and Eyk Henning

May 23, 2022 at 5:53 AM UTC

Updated on

May 23, 2022 at 1:40 PM UTC

This article is for subscribers only.

Siemens Energy AG says taking full control of loss-making subsidiary Siemens Gamesa Renewable Energy SA will allow the gas-turbine maker to get on top of operational and financial challenges faster.

The German company, which made an offer of 4.04 billion euros ($4.27 billion) for the shares it doesn’t already own in the troubled Spanish wind-turbine maker, sees supply-chain issues as the most pressing to solve, Chief Executive Officer Christian Bruch said in an interview with Bloomberg Television Monday.