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Siemens withdraws from Osram, sells euros 1.2 bn worth of shares

Siemens withdraws from Osram, sells euros 1.2 bn worth of shares

Oct 10, 2017: Siemens has completed the sale of 18.155 million ordinary shares in Osram Licht AG, thereby raising gross proceeds of approx. €1.2 billion. The sale followed an accelerated bookbuilt offering to institutional investors only.

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years.  One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry.

Siemens will only retain a small number of Osram shares required to service the remaining Siemens bond plus warrant issue due 2019. Siemens’s Chief Executive Officer Joe Kaeser noted the move came after Osram’s value more than doubled since an initial public offering in 2013, and a week after he unveiled a proposed combination of Siemens’s train business with that of Alstom SA of France.

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