The strategic business in the home appliance industry continued. After the announcement that Electrolux wants to take over GE’s vitvarudel breaks Bosch and Siemens a long term owner cooperation in the sector.
The Bosch buys out Siemens from BSH Bosch und Siemens Hausgeräte parties jointly ago in 1967.
Bosch pays 3 billion for Siemens shares. An additional dividend of EUR 250 million will also be made to the owners.
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According to a press release from Bosch is expected the deal to be completed in the first half of 2015, no further approval is needed of the company, however, several competition authorities say.
Representatives from Siemens says that the company carries out the sale as part of an increased focus on their core business.
BSH Bosch und Siemens Hausgeräte had sales of 10.5 billion euros last year. The Company will have the right to use Siemens trademark ownership even after the split.
Siemens announces parallel that the company will buy out the Dresser-Rand from the New York Stock Exchange. The offer is valued at $ 7.6 billion. The deal means that Siemens strengthens its offering to customers in the oil and gas sector.
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