Bid for Siemens Gamesa could launch before September – Siemens Energy CEO
FRANKFURT (Reuters) – Siemens Energy could launch its planned 4.05 billion-euro ($4.34 billion) bid for minorities in Siemens Gamesa sooner than September, its chief executive said, cautioning that the decision was up to Spanish regulators.
“We have an interest to do this as fast as possible,” Christian Bruch told analysts during the group’s capital markets day, adding the sooner a deal could be done, the faster operational problems at Siemens Gamesa could be fixed.
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Under a tentative timeline, the bid, which was announced on Saturday, would launch in mid-September before an extraordinary general meeting rubber-stamps it in November.
“It could get faster … but we’re obviously not alone in control of the timescale,” Bruch said.
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(Reporting by Christoph Steitz, Editing by Miranda Murray)