Siemens shareholders vote against sale of low-voltage motors business to parent
Siemens has announced that shareholders have voted against the sale of its low-voltage motors and geared motors business to a subsidiary of Siemens AG for a consideration of Rs. 2,200 crore. Nearly 74% of the votes were against the resolution to approve transactions. Public non-institutional shareholders voted 94.1% in favour of the sale whereas promoter & promoter group and public institutions voted 78% against the sale.
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