(Updates EC2152 with the closing of the Stock Market and adds data)
Frankfurt (Germany), Oct 31 (EFECOM).- The energy technology company Siemens Energy, parent company of Gamesa, fell 0.8% on the stock market this Tuesday after having reduced losses in a session in which it lost one 5% in the early stages, after last week recognizing that it needs state guarantees for loans.
Siemens Energy lost 0.8% this Tuesday, to 8.37 euros, at the close of trading on the Frankfurt Stock Exchange.
The decline in the stock market occurred after rumors circulated that the company was planning to sell more than half of its stake in Siemens India to Siemens (1%), a stake that amounts to 24% and is valued at 3.3 billion of euros.
The proceeds from the sale would help clean up Siemens Energy’s balance sheet and it would not be necessary to raise capital to maintain its credit rating; The company is going through a difficult time due to the problems of its subsidiary Gamesa and last week it acknowledged that it was negotiating with banks and the German Government state guarantees for loans.
The German Government wants Siemens, which is the majority shareholder of Siemens Energy, to get involved with guarantees.
Siemens Energy rose 12.7% on Monday after the chairman of its supervisory board, Joe Kaeser, assured that the company does not need a bailout from the German state, but only guarantees for loans.
On Thursday of last week it plummeted 35.5% on the stock market after reporting that it was negotiating with banks and the German Government for state guarantees for loans, but on Friday it recovered 9%. EFECOM
aia/mga
2023-11-01 05:49:32
#Siemens #Energy #falls #Frankfurt #Stock #Exchange
