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Siemens Eyes Selling 6% Siemens Energy Stake for Altair Deal

An entrance to a Siemens Energy AG building in Berlin. Siemens Energy shares have more than quadrupled this year. — An entrance to a Siemens Energy AG building in Berlin. Siemens Energy shares have more than quadrupled this year.
Photographer: Liesa Johannssen-Koppitz/Bloomberg

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By Wilfried Eckl-Dorna and Nina Trentmann

December 18, 2024 at 11:00 AM UTC

Updated on

December 18, 2024 at 11:34 AM UTC

This article is for subscribers only.

Siemens AG plans to sell a €2.5 billion ($2.6 billion) stake in Siemens Energy AG in the coming months to help fund its $10 billion acquisition of software maker Altair Engineering Inc.

Siemens is looking to divest a roughly 6% holding by the end of September, Chief Financial Officer Ralf Thomas said in an interview. The engineering conglomerate currently owns 17% in the turbine maker it spun off in 2020.