Siemens to sell stake in household appliances JV for 3 billion euros

Reuters

21 September 2014 at 10:23 pm

(Reuters) - Industrial conglomerate Siemens AG said it would sell its 50 percent stake in household appliances joint venture Bosch und Siemens Hausgeräte GmbH (BSH) to Robert Bosch GmbH for 3 billion euros ($3.85 billion)(2.36 billion British pound) . Siemens and Bosch said in an emailed statement that BSH would pay them an additional distribution of 250 million euros before the deal completes. (Reporting by Richa Naidu in Bangalore; Editing by Sandra Maler)

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