German conglomerate Siemens Aktiengesellschaft (Siemens AG) is planning to acquire an additional 18% stake in India unit, Siemens for 2.1 billion euros. The move will help the firm raise its stake in the India unit, Siemens, to 69% from 51% at present.
Siemens AG will acquire the stake from Siemens Energy, whose stake in Seimens will come down from 24% to 6%. Siemens AG has taken measures to support the stability of Siemens Energy AG and accelerate separation in India.
Specifically, Siemens AG intends to enter into a share purchase agreement with Siemens Energy to acquire an 18% stake in India unit, Siemens from Siemens Energy for 2.1 billion euros in cash. With the intended acquisition, Siemens and Siemens Energy will accelerate unbundling the business activities of the Indian subsidiary Siemens. Siemens Energy is to ultimately acquire a controlling stake in the demerged energy business. The aim is to complete the demerger in 2025, earlier than planned.
Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization.
| Company Name | CMP |
|---|---|
| Havells India | 1328.20 |
| Siemens | 3718.90 |
| Apar Inds | 11713.20 |
| ABB India | 7254.80 |
| Waaree Energies | 3474.00 |
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