By John Revill
ZURICH (Reuters) -Siemens said on Wednesday it would cut its 35 billion euro ($41 billion) stake in medical products maker Siemens Healthineers by giving shares in the medical equipment maker to its own shareholders.
The German engineering group will reduce its current holding of 67% in Healthineers by transferring 30% of its stock to its shareholders via a direct spin off as the “preferable option”, it said.
The future of Siemens’ investment in Healthineers, which Siemens floated in 2018, has been a subject of hot debate among investors in recent months and comes before Siemens’ is due to unveil its new strategy on Thursday.
Siemens said its own shareholders would benefit from the decisions, which would give them shares, while it would also help the company focus on its core areas of factory and building automation.
“The deconsolidation will provide potential to unlock long-term value for Siemens shareholders as a more focused technology company with a highly synergistic Siemens portfolio,” Siemens said.
($1 = 0.8575 euros)
(Reporting by John Revill. Editing by Mark Potter and Tom Sims)
