Siemens strengthens its shale gas & oil business. The German group announced that it has reached an agreement to purchase the American company Dresser-Rand at a price of 7,6 billion dollars. The shareholders of the US group that produces turbines and compressors will receive 83 cash dollars for each share. The valuation incorporates a premium of 37,4% compared to the July 16 listing, one day before the news of the acquisition began to circulate, causing the share price to rise on the Stock Exchange.
With the acquisition, Siemens aims to intercept the fracking boom in the USA with more incisive tools, at the basis of the enormous production development of shale gas and oil and expects to obtain synergies for 150 million euros a year, by 2019.
Instead, the long collaboration between Siemens and Bosch in household appliances, which lasted more than 45 years, is coming to an end. Siemens announced today that it will sell 50% of the BSH joint venture to Robert Bosch. Value of the transaction: 3 billion euros. Before closing, Bsh will pay each of its owners an additional dividend of 250 million euros.
