By Helena Smolak
Siemens will raise around 1.45 billion euros ($1.51 billion) from the sale of its 2% stake in Siemens Healthineers.
The German technology company said Wednesday evening that it sold 26.5 million ordinary shares of the medical-technology maker at a price of 54.65 euros a share, representing a 2.9% discount to its closing price on Wednesday of 56.28 euros.
Its net proceeds from the sale, expected to close on Feb. 4, will fund general corporate purposes.
The shares were sold exclusively to qualified investors in a private placement through an accelerated bookbuilding process, it said.
Following the transactions, Siemens agreed to not sell shares for 90 days as part of a customary lock-up agreement. It currently holds a 73% stake in Siemens Healthineers.
The move comes after Siemens said in December that it would consider to reduce its majority stake in Siemens Healthineers, which it had listed in 2018, by around 5%.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
February 20, 2025 02:17 ET (07:17 GMT)
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