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Newswire

Siemens to sell stake in household appliances JV for 3 bln eur

Sept 22 (Reuters) - Industrial conglomerate Siemens AG said it would sell its 50 percent stake in household appliances joint venture Bosch und Siemens Hausgeräte GmbH (BSH) to Robert Bosch GmbH for 3 billion euros ($3.85 billion).

Siemens and Bosch said in an emailed statement that BSH would pay them an additional distribution of 250 million euros before the deal completes.

(1 US dollar = 0.7786 euro) (Reporting by Richa Naidu in Bangalore; Editing by Sandra Maler)