FRANKFURT – Siemens Energy said Saturday it would pay 18.05 euros (19.06 USD) per share to the Spanish-listed Siemens Gamesa. The company hopes this will remove a complex ownership structure from its shares.

Siemens Energy stated that the offer represents a premium at 27.7% over last May 17th unaffected closing share prices of Siemens Gamesa wind turbine manufacturer Siemens Gamesa, which was 14.13 Euros on May 17.

($1 = 0.9470 euros)