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Tag Archives: Siemens to spin off oil

Siemens to spin off oil, gas unit for stock market listing


May 8, 2019

BERLIN: German industrial conglomerate Siemens said on Tuesday it plans to spin off its struggling gas and power unit to prepare it for a potential stock market listing next year. The division to be carved out comprises its oil and gas, conventional power generation, power transmission and related services businesses. Siemens’ Gas and Power (GP) unit is to be “given …

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