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Siemens defends €4bn Siemens Gamesa buyout

RICHARD HEAP

February 26, 2024

Siemens Energy chief executive Christian Bruch has today defended the firm’s due diligence before its €4bn takeover of Siemens Gamesa.

Bruch responded to shareholder criticism at Siemens Energy’s annual general meeting that major quality issues with some Siemens Gamesa onshore turbine models had been overlooked. He said the company had bought Siemens Gamesa based on “sound information”.

Bruch argued that quality issues had only emerged based on usage data about the newer models that was available after the takeover. He also said wind was a core part of the Siemens Energy business and there are no talks to sell the troubled subsidiary.

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