Spain’s stock market regulator Comision Nacional del Mercado de Valores (CNMV) has suspended trading of shares in Siemens Gamesa after media reports that main shareholder Siemens Energy is seeking to take control of the company.
The CNMV stated the move was precautionary pursuant to Article 21 of the Royal Decree-Law 21/2017.
It took the decision “due to circumstances that could disturb the orderly course of transactions on such instruments”.
The regulator has suspended share trading on the Stock Exchanges and on Sistema de Interconexion Bursatil and MEFF Sociedad Rectora del Mercado de Productos Derivados.
Spanish publication Expansion reported that Siemens Energy hired investment banks Morgan Stanley and Deutsche Bank to analyse various strategic alternatives for Siemens Gamesa, including a possible delisting after a tender offer.
The Expansion article cited unidentified financial sources.
Siemens Energy holds 67.07% in Siemens Gamesa.
Siemens AG holds a direct stake of 35% in Siemens Energy, and another 10% via its pension fund.