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Iberdrola has entered into an agreement with Siemens AG for the sale of the entire stake held by Iberdrola in Siemens Gamesa Renewable Energy, representing 8.07 % of its share capital.
The price for the transaction is € 1,099,545,760, which equals to € 20 per share in Siemens Gamesa. and the price is not subject to any future adjustment.
The parties have terminated the shareholders agreement entered into by them on 17 June 2016 without any compensations or claims for either of the parties or any of their respective affiliates. Accordingly, the proprietary director of Iberdrola will tender his resignation as director of Siemens Gamesa upon completion of the transaction.
Iberdrola, Siemens and Siemens Gamesa have entered into a separate collaboration agreement for an initial period of six months to strengthen and expand their current commercial business relationships regarding certain areas on renewable energy and networks businesses, with a special focus on onshore and offshore wind generation, digital grid and load management.
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