(Reuters) -German engineering company Siemens has raised roughly 1.45 billion euros ($1.5 billion) after selling a stake in healthcare subsidiary Siemens Healthineers, with proceeds expected to help pay for its acquisition of U.

Die Siemens AG stößt eine Beteiligung von 2,3% an der Medizintechnik-Sparte Siemens Healthineers ab, die sie 2018 an die Börse gebracht hatte. Voraussichtlich werden die Münchener damit rund 1,4 Milliarden Euro in die Kasse holen.

Siemens AG said Wednesday it is selling 2% of its stake in its medical device company Siemens Healthineers. Proceeds from the sale of the 22 million shares will be used for general corporate purposes, the company said in a news release. It has agreed not to sell any additional shares for 90 days.

German engineering company Siemens is selling a 2% stake in healthcare subsidiary Siemens Healthineers, it said on Wednesday, raising roughly 1.2 billion euros ($1.25 billion) that could help pay for its acquisition of U.

Siemens AG is likely to raise about €1.4 billion ($1.5 billion) from the sale of a roughly 2.3% stake in Siemens Healthineers AG, the medical technology unit it listed in 2018, after increasing the size of the deal.