Siemens withdraws from Osram, selling $1.4 billion worth of shares
Business news
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By
eeNews Europe
The engineering company will only retain a small number of Osram shares required to service the remaining Siemens bond plus warrant issue due 2019.
Siemens’s Chief Executive Officer Joe Kaeser noted the move came after Osram’s value more than doubled since an initial public offering in 2013, and a week after he unveiled a proposed combination of Siemens’s train business with that of Alstom SA of France.
Siemens – www.siemens.com
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