Iberdrola CEO Calls Truce With Siemens Until CNMV Ruling -Expansion
14 April 2018 - 12:00AM
Dow Jones News
--Iberdrola Chief Executive Ignacio Galan is backing away from
his feud with Siemens AG over its management of Siemens Gamesa
until Spain's market regulator decides if the German company broke
the shareholders' agreement it signed when it bought a majority
stake in Gamesa, Expansion reports.
--If CNMV finds that Siemens AG broke the agreement, Iberdrola
could force the German business to buy out its 8% stake in Siemens
Gamesa for EUR22 a share, and the regulator could eventually order
Siemens AG to launch a public takeover bid for the whole company,
Expansion says.
Full story in Spanish: https://bit.ly/2qvto4z
Write to Barcelona editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
April 13, 2018 09:45 ET (13:45 GMT)
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