Siemens exits lighting with USD 1.4 billion sale of Osram stake

Siemens is exiting the lighting business, in which it has been involved for the better part of a century. Its remaining stake in a light manufacturer will raise over one billion for the shrinking conglomerate.

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Siemens AG's complete withdrawal from the lighting industry further scales back the once sprawling German conglomerate, as Chief Executive Officer Joe Kaeser offloads assets from trains to medical scanners to household equipment in rapid succession.

The Munich-based company completed the sale of its remaining 17 stake in light manufacturer Osram Licht AG, raising about USD 1.4 billion  (EUR 1.2 billion) and exiting a business in which it was involved for the better part of a century.

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