Spain’s CNMV regulator suspends trading of Siemens Gamesa shares By Reuters

© Reuters. FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio, Spain, June 20, 2017. REUTERS/Vincent West

MADRID (Reuters) – Spain’s stock market regulator said on Tuesday it has suspended trading of shares in Siemens Gamesa after local newspaper Expansion reported that main shareholder Siemens Energy has hired investment banks to boost its stake.

Siemens Energy has hired investment banks Morgan Stanley (NYSE:) and Deutsche Bank (DE:) to analyse various strategic alternatives for Siemens Gamesa, including a possible delisting after a tender offer, the Spanish newspaper Expansion reported on Tuesday, citing unidentified financial sources.

Siemens Energy holds 67.07% in Siemens Gamesa. Siemens AG (OTC:) holds a direct stake of 35% in Siemens Energy, and another 10% via its pension fund.

A Siemens Energy spokesman declined to comment while a spokeswoman for Siemens Gamesa was not immediately able to comment.

Morgan Stanley and Deutsche Bank didn’t return emails seeking comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button