Siemens to Sell Stake in Siemens Energy to Fund Altair Deal, Bloomberg Says, Citing CFO

Dow Jones2024-12-18

--Siemens group is planning to sell a 6% stake in Siemens Energy in the coming months to help fund its 10 billion euro acquisition of software maker Altair Engineering, Bloomberg reports, citing an interview with Chief Financial Officer Ralf Thomas.

--Thomas said Siemens will eventually sell its entire holding in Siemens Energy but isn't in a rush, according to Bloomberg.

--Siemens currently holds a 17% stake in the turbine maker that it spun off in 2020. Siemens didn't immediately respond to a request for comment.

Full story: https://shorturl.at/LLAGS

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

December 18, 2024 10:00 ET (15:00 GMT)

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