January 8, 2018 / 9:35 AM / 3 months ago

Siemens to list Healthineers unit in March - sources

MUNICH, Jan 8 (Reuters) - Siemens is planning to list its 40 billion euro ($47.94 billion) healthcare unit Healthineers in March, two people close to the matter said, as the group hopes to execute the deal while market conditions are favourable.

The listing of a minority of Healthineers, which makes X-ray and MRI machines, will likely be announced in the first days of March, with an initial public offering taking place four weeks later, the people said.

Siemens, which is expected to sell 15-25 percent of Healthineers, declined to comment.

The listing of the unit is designed to enable it to raise its own funds for takeovers and investments in the healthcare sector as well as crystallising its standalone value, removing some of the “conglomerate discount” that weighs on Siemens’ valuation. ($1 = 0.8343 euros) (Reporting by Alexander Hübner; Writing by Arno Schuetze; Editing by Christoph Steitz)

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