Siemens expected to raise around 1.2 billion euros from selling Siemens Healthineers stake (updated)

Altair Engineering

19/02/2025 17:49

(Rewrites, Adding details, background)
       Feb 19 (Reuters) - German engineering company Siemens
 SIEGn.DE  is selling a 2% stake in healthcare subsidiary
Siemens Healthineers  SHLG.DE , it said on Wednesday, raising
roughly 1.2 billion euros ($1.25 billion) that could help pay
for its acquisition of U.S. software firm Altair Engineering.
        The sale of 22 million ordinary shares, via a private
placement, will reduce Siemens' stake in the medical equipment
maker - which it listed in 2018 - from 75% to 73%.
  
        Siemens said the proceeds will be used for "general
corporate purposes." The sum is likely to go towards last year's
$10.6 billion acquisition of Altair, the second biggest
acquisition in its history.
  
        Siemens CEO Roland Busch said last week that Siemens
would likely reduce its stake in Healthineers by around 5% this
year, and also offload 6% of its holding in Siemens Energy
 ENR1n.DE .
  
        Siemens has recently reduced its holding in Siemens
Energy from 15% to 14.3%, and has said it will gradually reduce
its holding during 2025.
  
        Siemens Chief Financial Officer Ralf Thomas told
analysts 
    last 
    week that the company would give a strategic update of what
the company would do with its holding in Siemens Healthineers at
its investor day on December 9.  
  
    ($1 = 0.9610 euros)
  

 (Reporting by John Revill and Andrey Sychev; Editing by Emelia
Sithole-Matarise)
 ((andrey.sychev@thomsonreuters.com;))