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| Lübeck / Erlangen, Nov. 15, 2002.– Today Dräger Medical and Siemens Medical Solutions (“Siemens Med”), Erlangen, executed their joint venture agreement. The due diligence by Lübeck-based Drägerwerk AG and Berlin and Munich-based Siemens AG has been completed. Siemens will acquire a 35-percent equity stake in Dräger Medical AG & Co. KGaA (a partnership limited by shares) and in exchange contribute its Electromedical Systems division. |
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| When the required antitrust clearances have been received, the joint venture will take effect and commence its worldwide operations in the business field Critical Care. The new JV will then have a total business volume of around €1.2 billion and employ some 6,400 people, about 4,800 and 1,600 from Dräger Medical and Siemens Med, respectively. The decisions on the approval under antitrust and cartel legislation are expected in the course of the first half of 2003. |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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