Siemens Energy is weighing the option of selling a portion of its 24% stake in Indian-listed Siemens Ltd to former parent Siemens AG, sources familiar with the matter revealed. The stake’s current valuation stands at approximately $3.4 billion.
This move is seen as a swift strategy by the German wind and gas turbine manufacturer to bolster its balance sheet, especially amidst ongoing discussions with Berlin and Siemens regarding guarantees for performance bonds.
Following this news, shares in Siemens Ltd experienced a dip of around 4% at 0512 GMT, marking their lowest level in more than six months.
At 12:45 pm the shares were trading 4% lower at ₹3,293.80
