Siemens to Spin Off And List Flender Business
08 Mayo 2020 - 1:38AM
Noticias Dow Jones
By Kim Richters
Siemens AG said Friday that it is planning to spin-off and
publicly list its mechanical drive systems manufacturer
Flender.
The German engineering company said it will first integrate its
Wind Energy Generation unit into Flender ahead of the spin-off. It
then plans to publicly list the combined company.
Siemens said Flender's pro-forma annual revenue is going to be
around 2 billion euros ($2.16 billion).
Its shareholders will vote on the plan at the annual
shareholders' meeting in February 2021, the company said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
May 08, 2020 02:23 ET (06:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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