Deals
Siemens Exits Lighting With $1.4 Billion Sale of Osram Stake
- German engineering company sells 17% stake in former unit
- Siemens clashed with Osram in past over business strategy
This article is for subscribers only.
Siemens AG’s complete withdrawal from the lighting industry further scales back the once sprawling German conglomerate, as Chief Executive Officer Joe Kaeser offloads assets from trains to medical scanners to household equipment in rapid succession.
The Munich-based company completed the sale of its remaining 17 percent stake in light manufacturer Osram Licht AG, raising about 1.2 billion euros ($1.4 billion) and exiting a business in which it was involved for the better part of a century.