Siemens Reduces Stake in Siemens Energy
By Pierre Bertrand
Siemens has further lowered its participation in Siemens Energy, transferring 8% of its stake in the company to its pension trust.
The German industrial group said that it has lowered its holding in Siemens Energy to 17.1% from 25.1% previously, the company said late Monday.
Siemens said the move will strengthen Siemens' pension assets in Germany. The company had long planned to reduce its participation in Siemens Energy.
Siemens had last transferred a portion of its Siemens Energy stake to the Siemens pension fund back in June. Siemens Pension-Trust e.V. independently manages Siemens's pension funds, Siemens said.
In addition, the company said that Siemens chief financial officer Ralf P. Thomas will step down from the Siemens Energy supervisory board. His resignation will be effective from the end of Siemens Energy's annual shareholders' meeting on Feb. 26.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
December 19, 2023 01:42 ET (06:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings, Is Coinbase Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
Today’s Market Volatility Could Provide Tomorrow’s Opportunities
-
40 of the Best Investment Picks
-
Tech Stock Dividends Are Changing the Face of Dividend Growth Investing
-
Roblox Earnings: Weakening Engagement Has Weighed On Growth
-
The Best Gaming Stocks to Buy
-
Energy Transfer Earnings: M&A Drives Guidance Increase In Solid Quarter
-
The Best Healthcare Stocks to Buy
-
Going Into Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?