On the occasion of Siemens Energy’s announced takeover bid to buy all of Gamesa’s shares, economist Niko Cuenca visited Euskadi Irratia to explain the background and implications of this business decision.
Euskaraz irakurri: Niko Cuenca: “Energia berriztagarrien oldea ikusita, negozioa badago, baina offshore ereduan zentratuko da”
Siemens Energy launched this Saturday a takeover bid for all shares of Siemens Gamesa Renewable Energy who do not yet own it, that is, about 32.9% of them. the economist Niko Cuenca Euskadi Irratia has explained the background and consequences of this business decision.
As explained by Cuenca, “very remarkable changes” are coming in the event that the company acquires 100% of the shares and Gamesa is banned from listing. He clarified that “when you plan to make a change of this caliber in the company without having internal problems, this sort of thing gets done”.
The company works with offshore and onshore generators, both related to wind energy. The part corresponding to: offshore (installations abroad) work properly, while having problems with the constructions on the land: “some generators have already been sold”, emphasized the economist.
So “it is likely that it will be decided to give up the less profitable part of the business.” “I think they’re going to throw it there,” he said, because “the company doesn’t want any trouble among investors.”
The abolition of onshore wind energy and offshore betting could have consequences for the employees of the various factories that Siemens Gamesa has. Cuenca explains that “when there is a purchase or merger like this, if we talk about synergies, it is likely that the management will be carried out from Germany, so Zamudio’s corporate positions could be at stake“, being the headquarters.
Siemens Gamesa’s most recent results indicate that they have issued two “profit warnings” in the past year, which aim to announce that the forecasts will not be met. In any case, the economist has emphasized that, “given the increase in renewable energy“, there is business. For now, however, “it will focus on the offshore model”.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
