- TO SHARPEN PORTFOLIO FOCUS VIA DEMERGER
GERMANY'S SIEMENS AG said on Wednesday it intends to enter into a share purchase agreement to acquire an 18% stake in its Indian joint venture, Siemens India, for ₹2.1 billion (₹18,949 crore) in cash from Siemens Energy, a group company.
Shares of Siemens closed up 2.26% at ₹3,495.35 on the BSE.
On the execution of the deal, Siemens' stake in the listed firm Siemens India would rise to 69%, from the present 51%, while that of Siemens Energy would fall to 6% from 24%.
With the acquisition, Siemens and Siemens Energy intend to accelerate the demerger of its Indian subsidiaries' business activities, it said in an exchange notice.
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Denne historien er fra November 16, 2023-utgaven av Financial Express Mumbai.
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