Siemens AG will increase its stake in the publicly listed Indian company Siemens Ltd. from 55.3 percent to 75 percent. During the offer period, which commenced on March 25, 2011 and closed on April 13, 2011, shareholders of Siemens Ltd. offered to sell Siemens AG a total of 29 percent of all outstanding shares. This was nearly 1.5 times the amount to be acquired. To reach the 75 percent figure, Siemens will acquire from the offerers, on a proportional basis, an additional stake of 19.7 percent. This move will enable Siemens to successfully further develop its business in India.
Siemens successful in bid to increase stake in Siemens Ltd. India to 75 percent
Siemens AG will increase its stake in the publicly listed Indian company Siemens Ltd. from 55.3 percent to 75 percent. During the offer period, which commenced on March 25, 2011 and closed on April 13, 2011, shareholders of Siemens Ltd. offered to sell Siemens AG a total of 29 percent of...
Apr 28, 2011