VAR Varian Medical System

   By Mauro Orru 
 

Siemens Healthineers AG said Thursday that it has raised about 2.34 billion euros ($2.76 billion) via an accelerated bookbuilding process, which it plans to use to partially finance the acquisition of Varian Medical Systems Inc.

The German medical-equipment maker said it placed 53 million new shares with institutional investors at EUR44.10 a share after launching the capital increase late Wednesday.

Around 16.2% of the offering was allocated to the Qatar Investment Authority, the company said.

After the placement, Siemens AG's direct and indirect stake in Siemens Healthineers will decrease to slightly above 75% from about 79%.

"With this share placement, we successfully completed the equity-related part of the Varian financing and implemented the financing structure as originally announced," Siemens Healthineers Chief Financial Officer Jochen Schmitz said.

"The transaction will also increase the free float and hence the attractiveness of our share," he said.

Siemens Healthineers last year agreed to take over Varian for a purchase price of about $16.4 billion.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

March 25, 2021 02:39 ET (06:39 GMT)

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