Siemens raises 2.7B euros to fund Varian acquisition

2020 02 03 21 20 2112 Siemens Rsna 2019 400

Siemens Healthineers has raised 2.73 billion euros in capital to fund the company's acquisition of Varian Medical Systems, a deal that was announced in August.

Siemens issued 75 million new shares with institutional investors at a price of 36.4 euros per share. The deal resulted in proceeds of 2.73 billion euros before deducting expenses and will increase the company's share capital by 7.5%.

The company had announced the funding round previously, stating that the capital would be used to partially fund its acquisition of Varian in a deal valued at 13.8 billion euros. The acquisition is expected to be completed in the first half of calendar 2021.

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