Siemens Energy considers cash buyout and delisting of Siemens Gamesa

Siemens Energy AG is considering a cash buyout offer for Siemens Gamesa Renewable Energy followed by delisting from the Spanish stock market, the company said on Wednesday.

The outcome of this consideration is open, no decision has been made, and there is no certainty that a transaction will materialise, Siemens Energy said in a statement.

There were reports earlier this year about Siemens Energy planning to fully acquire and delist Siemens Gamesa Renewable Energy, in which the parent company holds a 67 percent stake it inherited as part of a spin-off from former parent Siemens.

The company faced mounting shareholder pressure to seek control of Siemens Gamesa, after the German-Spanish wind turbine manufacturer recorded net losses of over $315 million for two straight quarters.

Shares in Siemens Gamesa rose 11 percent while Siemens Energy traded 3.4 percent higher following the update. At Tuesday's close, the 33 percent stake in Siemens Gamesa was worth $3.31 billion.

Last month, Siemens Gamesa launched a restructuring plan to address supply chain problems, delays in key projects and cost inflation that have been hurting its results and have prompted three profit warnings in less than a year.

Reuters quoted industry sources saying earlier this year that Siemens Energy was looking at options to acquire the remaining stake in the best possible way.