Siemens Energy, the Germany based provider of combined cycle turbines, generators, transformers and compressors, is to acquire 224,291,499 shares representing a 32.93% stake in Siemens Gamesa Renewable Energy SA, the Spain based manufacturer of wind turbines, with the intention to delist and integrate the business.
The consideration is 4.04 billion euros, based on an offer price of 18.05 euros per share of Siemens Gamesa Renewable Energy. The transaction is expected to close in the second half of 2022.
Freshfields Bruckhaus Deringer advised Siemens Energy with a team led by Jose Armando Albarran and formed by Nikolaus Bunting, Ignacio Baena, Maximilian Berenbrok, Asis Martin de Cabiedes, Carmen Delgado, Cristina Esteve, Alvaro Galobart, Maria Mera Garcia, Christoph Gleske, Karla Halonen, Mario Huether, Sebastian Jung, Bjoern Junior, Karsten Krumm, Lucas Lengersdorf, Ana Lopez-Cantalapiedra, Frank Montag, Silvia Paternain Osacar, Alexander Pospisil, Philipp Redeker, Christoph Heiner Werner Seibt, Schwarz-Lindenberg Simon.
Clifford Chance advised Bank of America and J.P. Morgan in relation to the 4.2 billion euro bridge financing for Siemens Energy AG in connection with the voluntary cash tender offer for the shares in Siemens Gamesa Renewable Energy. The law firm acted with a team led by partners Bettina Steinhauer (Frankfurt) and Epifanio Pérez (Madrid) and comprised, in Germany, counsel Christoph Nensa (Frankfurt), senior associate Peter Gierl and transaction lawyer Christoph Finsterwalder (both Munich) and, in Spain, senior associate Ignacio Magariños (Madrid, all Finance).
Allen & Overy advised Siemens Gamesa Renewable Energy with a team formed by Íñigo del Val, Teresa Mendez and Fernando Torrente Garcia de la Mata.