Siemens to acquire 18% in Indian arm from Siemens Energy for 2.1 bn euros
German conglomerate Siemens Aktiengesellschaft (Siemens AG) will acquire an 18 per cent additional stake in Siemens Ltd India for 2.1 billion euros ($2.28 billion), the company announced on Wednesday. With this, the company’s total stake in its Indian arm will jump to 69 per cent from 51 per cent earlier. Siemens Energy’s stake will decrease from 24 per cent to 6 per cent.
The purchase price reflects a 15 per cent discount from the 5-trading-days volume-weighted average price before the day of signing. Siemens will provide no new guarantees to Siemens Energy.
