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Siemens pension funds cuts Siemens Energy stake to below 10%, filing shows

Published 16/04/2024, 15:44
Updated 16/04/2024, 15:45
© Reuters. FILE PHOTO: A logo is seen at Siemens Energy's site on the day of German Chancellor OIaf Scholz's visit, during which he saw a gas turbine meant to be transported to the compressor station of the Nord Stream 1 gas pipeline in Russia, in Muelheim an der Ru

FRANKFURT (Reuters) - Siemens AG (ETR:SIEGn)'s pension fund has cut its stake in Siemens Energy by nearly 3%, a filing showed on Tuesday.

The group's pension fund holds a 9.97% stake as of April 15, the filing showed, giving the participation a current value of 1.38 billion euros ($1.47 billion).

The fund previously held 12.89%.

Siemens AG's direct stake in Siemens Energy remained unchanged at 17.1%, the filing showed. The group has said it wants to further reduce its holding in the former division, which was spun off and separately listed in 2020.

($1 = 0.9406 euros)

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