4 Dec 2023 , 11:13 AM
Siemens announced on December 1 that Siemens AG (Siemens Aktiengesellschaft, Germany) will purchase an 18% stake in the company from Siemens Energy Holding BV for Rs 2952.86 per share, a discount of 21.32% from the previous closing price.
The buyer would acquire 6,41,01,646 shares in the company, for a total transaction value of Rs 18,928 crore.
This follows an earlier statement by Siemens AG that it planned to engage into a share purchase agreement with Siemens Energy to buy a stake in its Indian subsidiary. The acquisition price was fixed at €2.1 billion.
Siemens AG and Siemens Energy Holding BV are the company’s promoters. The deal will involve an inter-se transfer between promoter companies. Despite being named as a promoter, Siemens AG had no investment in the company as of September 30. Siemens Energy Holding B.V. owned 24% of the firm.
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