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Citing anonymous financial sources, the Spanish newspaper said
Siemens AG had hired Morgan Stanley to review options including
a possible takeover and de-listing of Siemens Gamesa.
Expansion said Siemens AG had hired the bank through Siemens
Energy, which owns 67% of Siemens Gamesa. The conglomerate holds
35% of Siemens Energy, and another 10% via its pension fund.
Siemens has also hired Deutsche Bank to give an independent
valuation, the paper said.
Spokesmen for Siemens Energy and Siemens Gamesa declined to
comment, while Siemens AG did not immediately respond to a
request for comment. Morgan Stanley and Deutsche Bank did not
return emails seeking comment.
Siemens Energy Chief Executive Christian Bruch said earlier this
month it was too early to talk about buying out the rest of
Siemens Gamesa, but that this would become an issue at some
point.
A full takeover would allow the parent to have full control of
cash flows and speed up decision-making around divestments and
acquisitions because it could bypass minority shareholders, a
banker in the sector said.
Siemens Gamesa was formed in 2017 through a merger of Spain's
Gamesa and what was then the wind business of Siemens.
Siemens Energy shares were among the biggest gainers among
Germany's blue-chip stocks in early trade, rising more than 3%.
Frankfurt-listed shares of Siemens Gamesa were up 3.5% at 0907
GMT.
(Reporting by Emma Pinedo and Isla Binnie in Madrid, Arno
Schuetze, Christoph Steitz in Frankfurt and Alexander Huebner in
Munich; Editing by Jan Harvey)
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