BERLIN (Reuters) – Siemens AG said on Wednesday that intends to buy an 18% share from Siemens Energy in their Indian joint venture Siemens Ltd for 2.1 billion euros ($2.28 billion), reflecting a discount of 15% on the average price.
“The purchase price reflects a customary discount of 15% on the 5-trading-days volume-weighted average price before the day of signing,” said Siemens AG in a statement, confirming a Reuters report earlier this month that it was seeking a discount.
($1 = 0.9199 euros)
(Writing by Miranda Murray; Editing by Kim Coghill)
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