This book has the research objective to evaluate the shareholders‘ value and performance generated by the restructuring methods – Spin-Offs and Carve-Outs – and to distinguish the better-off restructuring among these two methods in case of Siemens AG’s endeavor. In literature analysis, the author came to the conclusion that the shareholders’ value is created in both the cases. So, is the result in case of Siemens AG’s endeavor also took place. Analyzing of the balance sheet and income statement with the various methods devised by the scholar, the author found that the monetary value created by carve-outs to the shareholders were greater in case of Siemens AG’s endeavor of both carve-outs and spin-offs of its subsidiary Infineon Technologies AG. After analyzing the performance of Infineon Technologies AG in subsequent years after carve-outs, it can be implicitly said that the value created by carve-outs as compared to spin-offs have generated higher shareholders’ value to the shareholders of Siemens as Infineon Technologies AG experienced losses which had been hidden in the Siemens AG’s performance if carve-outs would not have been performed immediately after the spin-offs was done. So, at the conclusion the author would give credit to carve-outs as compare to spin-offs in the maximization of shareholders’ value in case of spin-offs and carve-outs conducted by Siemens AG.