Siemens AG acquires additional 13.85 stake in SIEM

MG News | November 01, 2024 at 04:55 PM GMT+05:00

0:00

November 01, 2024 (MLN): Siemens Aktiengesellschaft has entered into a Share Purchase Agreement with National Investment Trust Limited (NIT) to acquire all shares of Siemens (Pakistan) Engineering (SIEM), representing approximately 13.85% of the issued and paid-up capital.

According to a notice issued by SIEM, its parent company, Siemens Aktiengesellschaft, already owns a 74.65% shareholding.

The transaction has an aggregate deal value of Rs1,732,198,276.

Accordingly, the settlement will occur in due course, in compliance with the applicable laws of Pakistan.

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