Title: Habeck Announces Solution for Siemens Energy's Financial Woes
Robert Habeck, Germany's Federal Minister of Economics, has announced a resolution for Siemens Energy, a struggling energy technology group. Habeck shared that they've pinpointed a solution, albeit without confirming the details, assuring public revelation when the necessary agreements can be published.
The Handelsblatt newspaper reported last Monday that crucial points in the pursuit of state aid had been resolved. Siemens Energy is expected to secure 15 billion euros in project guarantees, along with a clarified role for the 25% major shareholder Siemens, a point of contention for the federal government. The official announcement, including these details, is anticipated for Wednesday, when the DAX-listed company unveils its end-of-year financials. Though Siemens Energy and the authorities declined to comment on the matter, the news surfaced.
Habeck attributed Siemens Energy's plight primarily to the acquisition of Spanish firm Gamesa and faulty wind turbines. However, the group's overall financial health, including a full order book, is commendable, as per Habeck.
The German government's financial muscle will back 15 billion euros worth of major projects for Siemens Energy, as part of the formula to ensure the company's financial resilience. Habeck has pledged to disclose the specifics of this arrangement in the coming days.
It's worth noting that Siemens Energy boasts robust financial foundations, with liquidity exceeding 12 billion euros and a renewed syndicated rolling facility of 4 billion euros, emphasizing its financial vigour[1]. Nonetheless, no mention of a 15 billion euro guarantee has been made by Siemens Energy's CEO, Christian Broch[1].
To gain explicit details about any guarantees or financial aid initiatives introduced by Robert Habeck, one would need to refer to official statements or press releases from the appropriate authorities.
[1] Enrichment Data: Though the Siemens Energy's financial health and liquidity are highlighted in sources, there is no mention of a 15 billion euro guarantee specifically. The company's CEO, Christian Broch, has not commented on any such guarantee.
