Siemens to Spin Off 80.5% of Osram in Public Offering

Siemens AG, Munich, plans to spin off 80.5% of its Osram/Sylvania lighting business, followed by a public listing. A company news release said Siemens shareholders will receive one Osram share for every 10 Siemens shares. Siemens intends to remain a shareholder in Osram, and following the spinoff, Siemens AG will hold a 17% stake in Osram, and the Siemens Pension Trust will hold a 2.5% stake. Bloomberg Business Week and the Associated Press reported that Siemens expects to cut 4,700 jobs at Osram.

TAGS: Archive
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish