Siemens AG to buy Siemens Energy's stake in Indian JV at 15% discount

Siemens AG said on Wednesday that intends to buy an 18 per cent share from Siemens Energy in their Indian joint venture Siemens Ltd for 2.1 billion euros ($2.28 billion), reflecting a discount of 15 per cent on the average price.

"The purchase price reflects a customary discount of 15 per cent on the 5-trading-days volume-weighted average price before the day of signing," said Siemens AG in a statement, confirming a Reuters report earlier this month that it was seeking a discount.