Tuesday, January 13, 2004
German electronics giant Siemens AG, could raise 1.8 billion euro (about $2.3 billion) after selling 150 million shares in chip maker Infineon Technologies AG.
Siemens has more than halved its stake to 19 percent from the nearly 40 percent held previously, the company said Monday (Jan. 12). The shares were booked at around 8 euros and could be priced at between 12 and 12.25 euros. If so Siemens stands to make a profit of 600 million euro (about $770 million) from the transaction, according to reports.
Infineon was the chip making division of Siemens prior to a planned spin-off of which the latest sale represents a further step.
By: DocMemory
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