Home »Company News » World » Siemens sells Infineon stake for up to $2.4 billion

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  • Jan 13th, 2004
  • Comments Off on Siemens sells Infineon stake for up to $2.4 billion
Germany's Siemens AG said on Monday it sold a fifth of Europe's second biggest chipmaker Infineon, raising up to 1.84 billion euros ($2.4 billion) in another stage of its gradual withdrawal from the company.

The industrial conglomerate, which spun off former subsidiary Infineon during the technology boom at the turn of the century, sold 150 million shares, cutting its stake to about 19 percent from almost 40 percent.

Citigroup, appointed to handle the sale, said it was selling the stock to institutional investors within a range of 12 euros to 12.25 euros.

Copyright Reuters, 2004


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