4C is now TGS

We are excited to announce a significant milestone in 4C Offshore's journey. Our integration into the TGS family marks the beginning of a new era in offshore wind market intelligence.

Learn what this means for you!

CNMV lifts suspension of SGRE share trading

By: Tom Russell 18/05/2021 CNMW

General Turbines

The Comisión Nacional del Mercado de Valores (CNMV) has lifted the precautionary suspension share trading for wind turbine manufacturing giant Siemens Gamesa Renewable Energy (SGRE).

According to a CNMW notice this morning, the suspension was put in place "due to circumstances that could disturb the orderly course of transactions on such instruments."

It followed reports from local news outlets that major shareholder Siemens Energy had commissioned Morgan Stanley and Deutsche Bank to investigate a potential takeover or withdrawal from the market for SGRE on behalf of Siemens AG.

Siemens Energy responded to the notice stating: "Siemens Energy does currently not plan to launch a takeover bid for SGRE and we neither mandated Morgan Stanley nor Deutsche Bank in that respect."

"SIEAG performs a strategic review of its entire portfolio on a regular basis with the help of external advisors. SIEAG's stake in SGRE is part of such strategic portfolio review. While we can of course not exclude any scenario in the future, we can confirm that SIEAG is currently not working on a take-over bid in relation to SGRE."

CNMV has since issued a noticed that as of 14:30 local time, the suspension had been lifted.

SGRE is a major wind turbine manufacturer in both the offshore and onshore segments. In its Q1 2021 results the compnay report a revenue increased by 15% year-on-year (y/y) in the first quarter to €2,295m, which was attributed to strong sales performances by both Offshore and Service.

The company has installed over 107 GW of turbines in 75 countries. This includes over 1,000 Direct Drive offshore wind turbines have been installed in all major offshore wind markets globally. They include the UK, Germany, Denmark, the Netherlands, Belgium, and Taiwan, among others. Furthermore, SGRE stated that orders for an additional 1,000 Offshore Direct Drive turbines have been received, with installations planned for the markets mentioned above and new offshore markets including the USA and France.

For more information on offshore wind farms worldwide, click here.

Premium

4C Offshore Premium, our most popular subscription, gives you full access to use the 4C Offshore WebApp which includes exclusive offshore wind, transmission and vessel reports, news and downloads.

Request a 30 minute Demo

CNMV lifts suspension of SGRE share trading

Back to News

Trending News!