Siemens Energy Eyes Buyout Offer for Troubled Siemens Gamesa

Firm confirms it’s weighing cash bid to delist the business
Wind-turbine unit has issues with cost overruns, delays

Wind turbine blades at the Siemens Gamesa Renewable Energy SA plant at the Port of Le Havre in Le Havre, France, in April. Photographer: Nathan Laine/Bloomberg

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By Eyk Henning, Dinesh Nair, and Aaron Kirchfeld

May 18, 2022 at 4:31 AM UTC

Updated on

May 18, 2022 at 9:01 AM UTC

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Siemens Energy AG is weighing a bid for the shares of Siemens Gamesa Renewable Energy SA it doesn’t already own, a long-speculated step in its efforts to turn around the troubled Spanish wind-turbine maker.

Siemens Energy is considering to make a cash offer with a view to delisting the firm, the company said Wednesday, confirming an earlier Bloomberg News report. It already owns 67% of Siemens Gamesa, which currently has a market value of 9.6 billion euros ($10.1 billion), according to data compiled by Bloomberg.