Energy - Siemens stake in Siemens Energy declines: Pension fund
Siemens is further reducing its stake in Siemens Energy. As the technology group announced in Munich on Monday evening, 8 percent of the shares in Siemens Energy AG will be transferred to Pension-Trust e.V.. As a result, the stake in Siemens Energy AG will fall to 17.1 percent. Siemens is thus implementing its announcement to further reduce its stake in Siemens Energy, it said. By transferring the shares to the Siemens Pension Trust, Siemens is strengthening its pension assets in Germany.
According to Siemens, it had already indicated before the spin-off and also when Siemens Energy was listed on the stock exchange that it would reduce its stake in Siemens Energy depending on the general conditions. Most recently, Siemens transferred a 6.8 percent stake to the Siemens Pension Trust at the end of June. This company manages Siemens' pension assets independently within the framework of an investment guideline.
Siemens also announced that Siemens CFO Ralf P. Thomas is resigning from the Supervisory Board of Siemens Energy AG. This will take effect at the end of the Annual Shareholders' Meeting of Siemens Energy on February 26, 2024.
Announcement
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- The decrease in Siemens' stake in Siemens Energy will primarily benefit the company's pension fund in Germany, further enhancing its energy-related investments.
- The technology group Siemens Energy, headquartered in Bavaria, has seen a decline in its share ownership by its parent company, Siemens, as part of a strategy to reduce its holding.
- As a result of this strategic move, the Siemens Energy Pension fund in Germany will gain additional shares, increasing its influence in the energy technology sector.
- The latest step in this process saw Siemens transfer 8% of its shares to the Siemens Energy Pension Trust, further decimating its total ownership stake in the company.
- With this divestment, Siemens Energy AG's share on the German stock exchange will reflect a lowered 17.1% shareholding from its original founder, Siemens Technology Group.
Source: www.stern.de
