Siemens Transfers 6.8% Stake of Siemens Energy to Its Pension Trust
June 29 2023 - 12:47AM
Dow Jones News
By Pierre Bertrand
Siemens said late on Wednesday that it has transferred 6.8% of
its stake in Siemens Energy to the Siemens pension trust.
The transfer to Siemens Pension-Trust e.V. bolsters the German
industrial company's pension assets in Germany and reduces its
consolidated investment in the German energy company, Siemens said
in a statement.
Siemens said the move reflects its previously announced intent
to scale down its participation in Siemens Energy. It comes as the
energy company last week withdrew its fiscal 2023 profit
guidance.
Siemens's stake in Siemens Energy is reduced to 25.1% from
31.9%, the company said.
Siemens Pension-Trust e.V. independently manages Siemens's
pension funds, Siemens said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
June 29, 2023 01:32 ET (05:32 GMT)
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