Germany-based energy firm Siemens Energy is reportedly planning to acquire the remaining stake in Spanish wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE), with the aim of delisting the company.

Siemens Energy currently holds a 67% stake in SGRE and is said to be under shareholders’ pressure to buy the remaining 33% stake.

The company inherited the 67% stake as part of a spin-off from its former parent company Siemens.

Reuters quoted Siemens Energy as saying: “Management is considering a cash tender offer for all outstanding shares in Siemens Gamesa Renewable Energy with the intention to delist.

“The outcome of this consideration is open. No decision has been made and there is no certainty that a transaction will materialise.”

The 33% stake that Siemens Energy is considering acquiring is estimated to be worth around €3.14bn ($3.31bn).

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According to Reuters, the deal is expected to be finalised later this year.

Siemens Energy’s shareholders want the company to acquire the remaining stake, as it is believed this could help solve its operational problems.

Last month, the company launched a restructuring plan to address supply chain problems, delays in key projects and cost inflation that had negatively impacted its results and prompted three profit warnings within a year.

The plan came after Siemens Energy recorded net losses of more than €300m for two consecutive quarters.

In the same month, SGRE reached an agreement with SSE to sell its South European renewable development assets for a €580m consideration.

Under the terms of the deal, SSE Renewables will acquire SGRE’s 3.9GW onshore wind portfolio, whose assets are located across Spain, France, Greece and Italy.

The portfolio also has the scope for up to 1GW worth of additional co-located solar development opportunities.

The deal has allowed SSE Renewables to make its entry into Southern Europe’s renewable energy market.