Siemens sells rest of Epcos

Siemens has sold its remaining stake in passive components maker Epcos for 90 million euros ($108 million), a day after it divested the rest of its shareholding in chipmaker Infineon.
UBS placed 8.16 million Epcos shares at 11.08 per share with institutional investors on behalf of Siemens late on Friday, the investment bank said on Monday.
With the sale of its 12.5-percent Epcos stake, German industrial conglomerate Siemens completed the disposal of its last remaining big position in its former high-tech subsidiaries. It sold its 18-percent Infineon stake on Thursday.
Siemens set up the passive electronic components company that later became Epcos as a joint venture with Japanese electronics group Matsushita in 1989. Matsushita still holds 12.5 percent of Epcos.