S&P: Siemens unaffected by sale, acquisition

Standard & Poor's said that ratings and outlook on Siemens AG (AA-/Negative/A-1+) are not affected by the announcement of major portfolio adjustments.

The company announced an intended acquisition of Dade Behring Inc. for $7 billion and the sale of its automotive supply business VDO Automotive AG to Continental AG for €11.4 billion.

Proceeds from the VDO disposal will more than balance the cost of acquiring Dade Behring, and the automotive software company UGS Corp. earlier in 2007, S&P said.

The company's business risk profile will improve somewhat due to increased exposure to the lower risk medical business and reduced exposure to the higher risk automotive segment, the agency said.

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