Spin-off of Siemens Energy approved by large majority of Siemens shareholders

A large majority of Siemens shareholders at the Extraordinary Shareholders' Meeting voted to approve the spin-off of the company's energy business to Siemens Energy AG.

This step paves the way for the establishment of an independent company focused on the energy sector, the company said in the press release.

Siemens will now drive the further preparations for the listing. The Capital Market Day for Siemens Energy is scheduled for September 1, 2020.

The securities prospectus is to be published around two weeks prior to the listing, which is planned for September 28, 2020.

Source: Siemens