Siemens’ board has approved the incorporation of a wholly-owned subsidiary in India to execute a proposed demerger process of its energy business. Certain promoters -- namely Siemens Aktiengesellschaft, Germany, Siemens International Holding BV and Siemens Energy Holding BV, and also its ultimate parent company Siemens Energy Aktiengesellschaft have each requested the board of directors (BoD) of the Siemens to consider, evaluate and thereafter, start taking exploratory steps towards a potential demerger of its energy business into a separate entity.
The BoD, at its meeting held on December 18, 2023, authorised the management to commence exploratory steps as may be required to examine a potential demerger of its energy business.
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.
