Siemens CEO Seeks To Retain Over 25% In Lighting Unit Osram -Report
First Published Sunday, 29th April 2012 02:12 pm - © 2012 Dow Jones
FRANKFURT -(Dow Jones)- German industrial conglomerate Siemens AG (SI) intends to retain a stake of over 25% in its lighting unit Osram AG, which could be listed publicly in the autumn of 2012, Chief Executive Peter Loescher tells weekly newspaper Die Welt am Sonntag in an interview Sunday.
"We want to become minority shareholder [in Osram], but are seeking a stake of over 25%," Loescher is quoted as saying.
In terms of timing for the listing, Loescher said that Siemens isn't under time pressure.
"Autumn could be a window of opportunity," Loescher tells the newspaper.
Siemens had previously postponed the planned initial public offering of Osram due to turmoil on capital markets related to the sovereign debt crisis in the euro zone.
Newspaper website: www.welt.de
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.