Siemens released details of the next planned spinoff from the group on Tuesday – this time it concerns the Siemens Energy division. 55 percent of the company should go to Siemens shareholders. “The Siemens shareholders should automatically receive one Siemens Energy AG share for every two shares in Siemens AG,” announced the DAX group from Munich on Tuesday regarding the planned spin-off procedure. At an extraordinary general meeting on July 9, 2020, Siemens shareholders are to vote on the spin-off.
Even after the move, Siemens wants to further reduce its stake in Siemens Energy within 12 to 18 months – this depends on the strategic and operational development of both companies, according to the South Germans. The DAX Group announces that Siemens Energy will be listed on the stock exchange and is scheduled for September 28. After the spinoff, the company will employ 91,000 people and includes, among other things, the previous activities of the Siemens group in the areas of gas and steam turbines, generators, transformers and compressors.
“The independence of Siemens’ energy business is an important milestone in the successful implementation of our Vision 2020+,” said Joe Kaeser, CEO of Siemens AG. “The considerable increase in value in health technology makes it clear what potential can be leveraged by further focusing the entire company. This applies to both Siemens Energy and the ‘New Siemens AG’, which focuses on industrial business. This marks an important milestone in the realignment that is preparing Siemens companies for the tremendous technological transformations, ”said the manager.
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