financetom
Business
financetom
/
Business
/
Siemens could reduce stakes in Healthineers, other companies to fund Altair deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Siemens could reduce stakes in Healthineers, other companies to fund Altair deal
Nov 3, 2024 3:39 PM

ZURICH (Reuters) -Siemens could sell off part of its stakes in Siemens Healthineers, Siemens Energy and Fluence to help fund its $10.6 billion Altair acquisition, Chief Financial Officer Ralf Thomas said on Thursday.

Siemens currently holds 75% in medical equipment maker Siemens Healthineers and 17% in Siemens Energy, as well as a 31% stake in energy storage company Fluence.

"We have substantial financial potential from the sale of shares in listed entities," Thomas told analysts.

"The specific intent to use the proceeds from selling shares in listed companies is clearly related to this transaction," he added, referring to the Altair acquisition.

Siemens also had around 3.5 billion euros ($3.81 billion)from selling its Innomotics electric motors and drives business, a deal completed this month.

"We always said that we are not religious about a 75% shareholding in Siemens Healthineers," Thomas said. "So, give or take, 5% would be a meaningful assumption for a sell down."

Siemens planned to reduce its stake in Siemens Energy "in the next couple of months," the executive said.

Still, Siemens would seek to minimise the impact of the share sales on the stock prices of the companies affected.

When Siemens had previously reduced its Siemens Energy investment, this was done without any "major noise or waves in the market," Thomas said.

"We will definitely protect the share price of those companies being affected," Thomas said.

($1 = 0.9191 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Roche director Suessmuth Dyckerhoff to stand down from board
Roche director Suessmuth Dyckerhoff to stand down from board
Oct 2, 2025
ZURICH (Reuters) -Roche said on Friday Claudia Suessmuth Dyckerhoff would not stand for re-election as a member of the pharma company's board of directors. Suessmuth Dyckerhoff, who has been on Roche's board since 2016, is stepping down after being nominated for election to the board of another healthcare company. ...
Analysis-Coty's consumer beauty line looks like a hard sell
Analysis-Coty's consumer beauty line looks like a hard sell
Oct 2, 2025
LONDON/PARIS (Reuters) -Ageing brands and declining sales could make Coty's ( COTY ) makeup business a hard sell, raising the prospect of piecemeal deals or lower than expected proceeds that might complicate the group's plans to cut debt and invest in growth. Coty ( COTY ) said on Tuesday it had launched a review of its mass-market Consumer Beauty business,...
Fire breaks out at Chevron's refinery in El Segundo
Fire breaks out at Chevron's refinery in El Segundo
Oct 2, 2025
Oct 3 (Reuters) - A fire broke out at Chevron's ( CVX ) El Segundo refinery in Los Angeles county, California Governor Gavin Newsom's press office said on Thursday on X. The city's fire department is ready to assist with any request for aid, Los Angeles mayor Karen Bass said, adding, There is no known impact to LAX at this...
Clariant rejects 2 billion euro damages claim
Clariant rejects 2 billion euro damages claim
Oct 2, 2025
Oct 3 (Reuters) - Swiss specialty chemicals maker Clariant has rejected allegations from BP Europe and an ExxonMobil ( XOM ) subsidiary who are seeking damages for breaching competition law in the ethylene purchasing market. Clariant was one of four companies which have received claims for damages totalling 1.96 billion euros ($2.30 billion) which have been lodged with courts in...
Copyright 2023-2026 - www.financetom.com All Rights Reserved