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.
Photo: PR
Photo: PR
BY OLIVER SACHGAU, WILLIAM CANNY & RUTH DAVID, BLOOMBERG

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.

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