Siemens Energy shares slide 32% after company seeks support from German government

  • 📰 CNBC
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Shares of Siemens Energy tumbled more than 32% on Thursday after the company sought guarantees from the German government.

Wolfgang Rattay | Reuterstumbled more than 32% on Thursday after the company sought guarantees from the German government.

"The strong growth in order intake, particularly in the former Gas and Power business areas, leads to a rising need of guarantees for long-term projects," the company said in a statement. "Considering this requirement, the Executive Board is evaluating various measures to strengthen the balance sheet of Siemens Energy and is in preliminary talks with different stakeholders, including banking partners and the German government, to ensure access to an increasing volume of guarantees necessary to facilitate the anticipated strong growth," it added.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Siemens Energy shares slide 32% after company seeks support from German governmentShares of Siemens Energy tumbled more than 32% on Thursday after the company sought guarantees from the German government for long-term projects. This is…
Source: NBCNewYork - 🏆 270. / 63 Read more »