MUNICH: Siemens AG aims to shed about 75% of its struggling power and gas unit in one of the most radical moves to date by chief executive Joe Kaeser to untangle the sprawling conglomerate and try to boost its valuation.
The Munich-based industrial giant wanted to “massively deconsolidate” the division to make the parent company more manageable and less risky, Kaeser said in an interview.
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