Siemens: details of Siemens Energy spin off
(CercleFinance.com) - Siemens has announced the details of its plan to spin off its energy business, a plan that will be submitted to an extraordinary general meeting on 9 July and which provides for the attribution of one Siemens Energy share for every two Siemens shares held.
As a result, 55% of Siemens Energy's capital will be sold to the shareholders of the industrial group. Siemens could then significantly reduce its stake in the next 12 to 18 months, depending on the strategic and operational development of both groups.
In addition, Siemens has placed itself under a contractual obligation to refrain from exercising any controlling influence over the new company, which it plans to float on 28 September.
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