Siemens Healthineers Stake Sale to Yield €1.4 Billion
Siemens AG is expected to generate approximately €1.4 billion ($1.5 billion) by offloading a 2.3% stake in its medical technology subsidiary, Siemens Healthineers AG. The offering size has been increased from an initial 22 million shares to roughly 26.5 million.
According to Bloomberg, the shares are likely to be priced at €54.65 each, resulting in a 2.9% discount from Wednesday's closing price of €56.28. The demand for the offering is reportedly several times higher than the available shares.
The sale follows Siemens' announcement last year that it might sell shares in Siemens Healthineers to fund its $10.6 billion acquisition of Altair Engineering Inc. The proceeds will be utilized for general corporate purposes. Additionally, Siemens intends to sell a €2.5 billion stake in Siemens Energy AG to complete the Altair deal.
Barclays Plc, BNP Paribas SA, and Morgan Stanley are managing the transaction. In 2023, European investors have raised $6.3 billion through overnight placements, primarily led by corporate shareholders. Recently, Pfizer Inc. sold a $3.1 billion stake in Haleon Plc, while Reinet Investments SCA exited its $1.5 billion stake in British American Tobacco Plc.