Siemens (SIEGY) Plans to Sell Siemens Energy (SMNEY) Shares to Fund Altair Acquisition

Dec 18, 2024

Siemens (SIEGY, Financial) intends to sell €2.5 billion ($2.6 billion) worth of Siemens Energy (SMNEY) shares in the coming months to finance its $10 billion acquisition of software maker Altair Engineering. Currently, Siemens holds a 17% stake in Siemens Energy and plans to divest about 6% by September next year. CFO Ralf Thomas stated that Siemens will eventually sell all its Siemens Energy shares but will proceed cautiously to manage stock price movements.

Siemens Energy's stock price has more than doubled this year, driven by optimism around resolving issues in its Gamesa wind turbine division and increased demand from data centers. Siemens plans to fund the Altair deal through share sales and proceeds from its €3.5 billion sale of the Innomotics heavy motor business.

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