Siemens AG intends to propose to its Annual Shareholders’ Meeting a spinoff of 80.5% of Osram/Sylvania lighting business followed by Osram’s public listing.
Siemens shareholders are to receive one Osram share for every 10 Siemens shares. Siemens intends to remain a shareholder in Osram. Following the spinoff, Siemens AG will hold a 17% stake in Osram, and the Siemens Pension Trust will hold a 2.5% stake.
Implementation of the spinoff plans will require the approval of at least three-quarters of the Annual Shareholders’ Meeting of Siemens AG. The Annual Shareholders’ Meeting will take place on January 23, 2013.Tagged with tED