Reported 3 days ago
Siemens AG intends to divest a €2.5 billion ($2.6 billion) stake in Siemens Energy AG, approximately 6% of its holdings, to finance its $10 billion acquisition of Altair Engineering Inc. The sale is part of a broader strategy to bolster funding after the company’s recent success in the energy market and other divestments, including a €3.5 billion sale of its Innomotics division. Although Siemens plans to eventually sell its entire Siemens Energy stake, Chief Financial Officer Ralf Thomas emphasized the importance of managing the sale to optimize market conditions.
Source: YAHOO