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Siemens AG sells 24% stake in Indian unit for Rs 8,520 crore to group firm
May 20, 2020 | By Moneycontrol.com
business
While there was no official word from the company, reports suggested that Siemens AG was in the process of carving out its gas and power business, which had dragged its overall performance, into a separate subsidiary.
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German conglomerate Siemens Aktiengesellschaft sold shares worth over Rs 8,500 crore in its listed Indian subsidiary Siemens Ltd, amounting to about 24 per cent stake, to another group firm Siemens Gas and Power Holding BV. Siemens Aktiengesellschaft is the
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