Thomas Fox at Latham & Watkins advises on tax matters for Siemens’ IPO of its medical technology unit

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Latham & Watkins is advising Siemens AG on the Initial Public Offering of its medical technology unit. The IPO is planned for the first half of 2018 on the Prime Standard of the Frankfurt Stock Exchange, and is expected to be one of the largest IPOs in Germany for many years.

For purposes of the flotation, Siemens is creating Siemens Healthineers AG, which comprises the medical technology business. Following the IPO, Siemens will remain invested as the company’s most significant shareholder. In 2015, Siemens combined its medical technology activities in a GmbH. The unit, one of the world’s leading technology suppliers for the healthcare sector, offers medical technology, software solutions, and advisory services for hospitals. In the 2016-2017 business year, the medical technology unit achieved sales of €13.8 billion, making it the largest contributor of revenue to Siemens AG.

The Latham & Watkins team is led by Frankfurt capital markets partner Oliver Seiler and Munich corporate partner Rainer Traugott, with London capital markets partner David Boles, Hamburg corporate partner Dirk Kocher, and Düsseldorf corporate partner Nikolaos Paschos, with Frankfurt associates David Rath, Camilla Kehler-Weiss, Jana Sichelschmidt, Lukas Greilich, and Gregory Walker, London associate Shawn Anderson, and Munich associate Rieke Klie. Advice is also being provided on regulatory matters by Hamburg partner Christoph Engeler, and on tax matters by Munich partner Thomas Fox and counsel Ulf Kieker, with associate Tim Nobereit

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