Siemens AG may reduce its stake in medical device company Siemens Healthineers to help fund a proposed acquisition.
The company’s stake could drop to 70%, from 75%, Ralf Thomas, Siemens AG's chief financial officer, told the German newspaper Handelsblatt Monday. The company plans to announce its decision at the end of the year at its capital markets day, Thomas said.
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"We are evaluating the economic opportunities for Siemens AG in the healthcare sector," Thomas said. “From this, we will then deduce how instrumental Healthineers is as an investment for this."
In October, Thomas told financial analysts the company might trim its stake in Siemens Healthineers, along with portions of its holdings in Siemens Energy and energy storage company Fluence, to help fund its proposed $10.6 billion acquisition of computational intelligence company Altair, Reuters reported.
Siemens Healthineers declined to comment. Siemens AG spun off Siemens Healthineers in 2018, making shares available to the public while maintaining the majority stake.
