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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.

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