Siemens Energy considers total takeover of Spanish subsidiary Gamesa

Germany's Siemens Energy has confirmed that it is considering a complete takeover of its struggling wind power subsidiary Siemens Gamesa.

The company, which is listed on the MDax, announced in Munich that management was considering a cash offer to take the subsidiary off the stock market.

No decision had been made yet, the statement said.

Siemens Energy already owns some two-thirds of Gamesa shares, and the company, which is headquartered in Spain, is currently valued on the stock market at around €9.6 billion ($10.1 billion).

Rumours about a possible takeover have been circulating for months.

In a statement earlier this month, Christian Bruch, chief executive of Siemens Energy, said Gamesa's results had been "disappointing" and were "weighing heavily" on the parent firm.