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Siemens AG Plans To Spin Off Lighting Subsidiary Osram; Valeo SA To Buy Osram's Stake In JV Valeo Sylvania-DJ


Tuesday, 18 Jun 2013 03:01am EDT 

Dow Jones reported that Siemens AG's lighting subsidiary Osram said it has entered an agreement with Valeo SA which allows the French automotive supplier to buy Osram's stake in their North American joint venture Valeo Sylvania. The two companies struck a put and call option agreement, according to which Valeo can acquire Osram's 50% stake in early 2014, said the German lighting company. Financial details of the agreement weren't disclosed. Siemens plans to spin off Osram in July, distributing free shares to its shareholders. 

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