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Siemens to continue winding down Siemens Energy stake, keep majority in Healthineers

Published 08/02/2024, 12:07
Updated 08/02/2024, 12:10
© Reuters. FILE PHOTO: Roland Busch, CEO of Siemens, speaks during a Siemens keynote address at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. January 8, 2024. REUTERS/Steve Marcus/File Photo
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ZURICH (Reuters) - Siemens intends to remain majority shareholder in Siemens Healthineers and also continue to reduce its holding in Siemens Energy, Siemens AG (ETR:SIEGn) CEO Roland Busch said on Thursday.

"When it comes to the decision to further divest Siemens Energy shares ... we brought it down in 2023 from 25.1% to 17.1% at the moment and we continue to do just that," Busch told the company's AGM.

"We are going to reduce our shares based on the market environment and we don't exclude any options," he added, saying selling the shares as a package would be considered.

© Reuters. FILE PHOTO: Roland Busch, CEO of Siemens, speaks during a Siemens keynote address at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. January 8, 2024. REUTERS/Steve Marcus/File Photo

Siemens also wanted to remain majority shareholder in Siemens Healthineers, where it holds a 75% stake, Busch added. Siemens, which also reported its Q1 earnings on Thursday, did not need to use Healthineers shares to pay for acquisitions.

"We believe that this is a very attractive and innovation driven business that allows us to participate in that market," Busch said.

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