Siemens Energy AG already holds approximately 67.1 percent of the shares in Siemens Gamesa. The announced offer price is €18.05 per share, valuing Siemens Gamesa at approximately €12.3 billion (equity value). The transaction volume is just over €4 billion. Binding financing commitments already exist for the financing of the tender offer.
Siemens Energy AG is a MDAX-listed international leader in power generation, power transmission and industrial solutions, both conventional and renewable. Siemens Gamesa is a listed company currently listed on the Spanish IBEX-35 index and a leading international manufacturer of on-shore and off-shore wind turbines and provider of related services.
Freshfields has advised Siemens Energy AG on its strategic review and the resulting transaction plan comprehensively with regard to Corporate, Takeover and Capital Markets Law under German and Spanish Law, as well as on the Financing and on the Tax and Regulatory aspects.
The transaction is expected to be completed in the second half of 2022.
The Freshfields team consisted of the following:
Partners: Christoph H. Seibt (Corporate/M&A, Hamburg; Lead), Armando Albarrán (Corporate/M&A, Madrid; Co-Lead), Simon Schwarz-Lindenberg (Corporate/M&A, Hamburg/Frankfurt), Mario Hüther, Christoph Gleske (both Finance, Frankfurt), Ana López (Finance, Madrid), Philipp Redeker (Tax, Düsseldorf), Silvia Paternain (Tax, Madrid), Frank Montag (Antitrust, Brussels).
Counsel: Alexander Pospisil (Finance, Frankfurt), Cristina Esteve (Finance, Madrid), Peter Stark (Tax, Frankfurt), María Mera Garcia (Tax, Madrid)
Principal Associates: Karsten Krumm (Corporate/M&A, Hamburg), Asís Martín de Cabiedes (Corporate/M&A, Madrid), Nikolaus Bunting (Finance/ECM, Frankfurt), Álvaro Galobart (Finance, Madrid), Björn Junior (Tax, Düsseldorf)
Associates: Maximilian Berenbrok (Corporate/M&A, Hamburg), Ignacio Baena (Corporate/M&A, Madrid), Lucas Lengersdorf (Finance, Frankfurt), Álvaro Galobart (Finance, Madrid), Sebastian Jung (Tax, Frankfurt), Carmen Delgado (Tax, Madrid), Karla Halonen (Antitrust/Investment Control Law, Brussels)
Siemens Energy was advised inhouse by: Anton Steiger (General Counsel), Christian Zentner (Head of Corporate/M&A), Elke Wachenfeld-Teschner (Head of Capital Markets & Shareholdings), Jörn Eickhoff (Head of Legal Competition & Regulatory), Antonia Maier (Senior Counsel Corporate/Supervisory Board), Moritz Maier (Senior Counsel Corporate), Andreas Kirchner (Senior Counsel Finance)