Spain’s stock market regulator (CNMV) has given the green light to Siemens Energy’s €4.05bn ($4.04bn) bid to take full control of wind turbine manufacturer Siemens Gamesa.
Siemens Energy in May said it will offer €18.05 per share for the close to a third in Siemens Gamesa shares it didn’t already own, in an attempt to integrate the OEM with the Germany-based energy technology giant and halt losses at the Spain-based unit’s onshore wind business.
The offer acceptance period for the offer will be 36 calendar days and has started on Tuesday, following the publication of the first required regulatory public announcement of the offer on Monday, Siemens Energy said.
