# Siemens shareholders approve spinoff of Siemens Energy

Siemens AG shareholders approved the spinoff of its energy business into an independent company, Siemens Energy AG, with annual revenue of nearly EUR 29 billion, to begin trading on September 28, 2020.

- Type: Acquisition
- Announced: 2020-07-09
- Where: Munich, Germany
- Status: announced
- Products: gas turbines, wind turbines, compressors
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Siemens](https://endata.com/companies/301.md)
- [Siemens Gamesa Renewable Energy](https://endata.com/companies/3169.md) (target)
- [Siemens Energy](https://endata.com/companies/6803.md) (target)

## Sources

- [worldoil.com](https://worldoil.com/news/2020/7/9/siemens-spins-off-its-gas-turbine-and-wind-power-business), 2020-07-09: "More than 99% of shareholders approved the motion to create an independent Siemens Energy AG at an extraordinary shareholder meeting on Thursday."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.