Siemens planning to offload ownership stake in Siemens Energy
Based on recent financial maneuvers, it seems Siemens is readying for a significant undertaking. In an exclusive scoop with Bloomberg News, Siemens' Finance Director, Ralf Thomas, announced that the tech behemoth is planning to dispose of approximately 6% of its stake in Siemens Energy, valued at around 2.5 billion euros, by the end of September.
While the company still retains a hefty 17% chunk, Thomas didn't rule out the possibility of selling off the remaining stake in the energy tech giant post the 2020 spin-off. However, he emphasized the importance of strategic selling, refraining from rushing to offload the entire stake all at once.
This move comes as part of Siemens' larger strategy to fund its groundbreaking 10-billion-dollar acquisition of US software company Altair, announced back in October. Thomas hinted at additional divestments, potentially including the sale of shares in Siemens Healthineers and Siemens Energy, with a 5% slice of Siemens Healthineers seeming like a likely target.
The announcement sent Siemens Energy's shares skyrocketing by 2% at midday, making it the top performer in the DAX this year, quadrupling its value. Siemens shares followed suit, inching up by 1.3%.
Historically, Siemens has shown a strategic approach to its energy business, with the global spin-off of the energy division into Siemens Energy AG in 2020. Similarly, Siemens Ltd in India is undergoing a demerger process, and eligible shareholders might receive shares of Siemens Energy India on a 1:1 basis upon the listing of Siemens Energy India in the near future. Keep an eye out for more updates on Siemens' strategic moves to keep your fingers on the pulse of this tech powerhouse!
- Ralf Thomas, Siemens' Finance Director, recently announced that Siemens is planning to sell a 6% stake in Siemens Energy, worth approximately 2.5 billion euros, by the end of September.
- Siemens is using the proceeds from this stake sale to fund its acquisition of US software company Altair, a 10-billion-dollar deal announced in October.
- Thomas also hinted at potential divestments involving the sale of shares in Siemens Healthineers and Siemens Energy, with a 5% slice of Siemens Healthineers seeming like a likely target.
- This strategic stake sale by Siemens has caused Siemens Energy's shares to skyrocket by 2% at midday, making it the top performer in the DAX this year and quadrupling its value.
- Historically, Siemens has demonstrated a strategic approach towards its energy business, with the global spin-off of the energy division into Siemens Energy AG in 2020.
