DGAP-Adhoc

Siemens Aktiengesellschaft: Siemens to acquire Dresser-Rand and to divest stake in BSH

Siemens Aktiengesellschaft / Key word(s): Mergers & Acquisitions

22.09.2014 01:52

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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The Supervisory Board of Siemens approved the decision of the
Managing Board to enter into an agreement with Dresser-Rand (NYSE:DRC),
which is listed on the New York Stock Exchange, to acquire all of the
issued and outstanding common shares of Dresser-Rand by way of a friendly
takeover bid. Siemens' bid is unanimously supported by Dresser-Rand's Board
of Directors. The offer price is $83 per common share in cash, or a total
transaction value of approximately $7.6 billion (approximately EUR5.8
billion). Siemens expects to close the transaction by summer 2015.

At the same time, the Supervisory Board approved a further portfolio
measure resolved by the Managing Board to enter into an agreement with
Robert Bosch GmbH, according to which Bosch and Siemens have agreed that
Bosch will acquire Siemens' 50 percent stake in the joint venture BSH Bosch
und Siemens Hausgeräte GmbH (BSH). The purchase price will total EUR3
billion. In addition, Siemens and Bosch will each receive from BSH an
additional distribution of EUR250 million before the transaction is
completed. The transaction, which still requires regulatory approval, will
probably be completed in the first half of calendar year 2015.


Contact:
Siemens Investor Relations
Wittelsbacherplatz 2
80333 München
[phone]
[e-mail]


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Information and Explaination of the Issuer to this News:

Disclaimer

This document includes supplemental financial measures that are or may be
non-GAAP financial measures. Orders and order backlog; adjusted or organic
growth rates of revenue and orders; book-to-bill ratio; Total Sectors
profit; return on equity (after tax), or ROE (after tax); return on capital
employed (adjusted), or ROCE (adjusted); Free cash flow, or FCF; adjusted
EBITDA; adjusted EBIT; adjusted EBITDA margins, earnings effects from
purchase price allocation, or PPA effects; net debt and adjusted industrial
net debt are or may be such non-GAAP financial measures. These supplemental
financial measures should not be viewed in isolation or as alternatives to
measures of Siemens' net assets and financial positions or results of
operations as presented in accordance with IFRS in its Consolidated
Financial Statements. Other companies that report or describe similarly