BERLIN/MUNICH (dpa-AFX) – The federal government is giving Siemens Energy a guarantee of 7.5 billion euros. It is part of the required guarantee lines totaling 15 billion euros, which were agreed with private banks, among others, as the Federal Ministry of Economics announced on Tuesday. This was preceded by weeks of negotiations.
Specifically, private banks are granting Siemens Energy guarantee lines totaling 12 billion euros, some of which are secured by the federal government’s guarantee. The company is expected to secure another 3 billion in negotiations with other parties involved. The federal government will only provide the guarantee if the other parties involved also make their contributions.
Siemens Energy is expected to receive another approximately 2 billion through the sale of shares in a joint venture with Siemens. According to previous reports, this could be Siemens India. Siemens is the former parent of Siemens Energy. The group spun off its power plant business in 2020 and listed it on the stock exchange as Siemens Energy.
At the end of October it became known that Siemens Energy was talking to the federal government about state guarantees. Such guarantees are not uncommon in long-term transactions; for example, they protect customer down payments.
Siemens Energy is suffering from difficulties at its wind power subsidiary Siemens Gamesa, which repeatedly causes problems and losses worth billions. Other business areas such as conventional power plant technology or power transmission are running solidly, but have recently been unable to offset the burdens from wind power. On Wednesday, Siemens Energy will present figures for its fiscal year that ended at the end of September. A loss of billions is expected./ruc/DP/ngu
Selected leverage products on Siemens
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Siemens
The leverage must be between 2 and 20
Advertising