Siemens AG to acquire 18 per cent stake in Siemens Ltd for 2.1 billion euros
German conglomerate Siemens Aktiengesellschaft (Siemens AG) will acquire an additional 18 per cent stake in its India unit 2.1 billion euros (USD 2.28 billion), the company announced on Wednesday.
The move will help the firm raise its stake in the India unit, Siemens Ltd, to 69 per cent from 51 per cent at present, according to an official statement. Siemens AG will acquire the stake from Siemens Energy, whose stake in Seimens Ltd will come down from 24 per cent to 6 per cent.
