Siemens sells land parcel in Bangalore for Rs 345 crore

04 Jul 2014 Evaluate

Siemens has sold the land parcel located in Bangalore on July 03, 2014 to Prestige City Properties. The proceeds of the sale is approximately Rs 345 crore. The company has taken this step as part of its continuous asset optimization exercise.

Siemens is the flagship listed company of Siemens AG in India and is a major player in the electronics and electrical engineering business. Germany’s Siemens AG holds a 75 per cent stake in the company.

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