Siemens unveils overhaul, confirms $1.3B deal for Rolls-Royce energy business

|About: Siemens AG (SIEGY)|By:, SA News Editor

Siemens (SI) announces a corporate overhaul which will reorganize the company into nine divisions, see its healthcare business managed separately, and its audiology activities publicly listed; SI also confirms it is buying Rolls-Royce's (RYCEY) energy business.

The £785M ($1.32B) purchase, plus £200M as part of a 25-year development services agreement, aims to strengthen SI's power generation and transmission business.

Nine divisions will replace SI's four sectors, with healthcare being added an additional unit; the company expects the moves to help boost productivity by ~$1.5B, fully effective by the end of FY 2016.