Siemens Rail Automation becomes wholly owned subsidiary of Siemens

Siemens Ltd has now informed BSE that Siemens Rail Automation Private Limited has become a Wholly Owned Subsidiary of the Company with effect from October 01, 2014.

With reference to the earlier announcement letter dated January 30, 2014, relating to the Board of Directors of Siemens Limited had approved the acquisition of 100% equity shares of Siemens Rail Automation Private Limited from Siemens International Holding BV, Netherlands (99 99%) and Siemens AG (0.01%) for a consideration of Rs.55 crores. Siemens Ltd informed BSE that Siemens Rail Automation Private Limited has become a Wholly Owned Subsidiary of the Company with effect from October 01, 2014.

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