Siemens to Sell Flender to Carlyle Group
29 Oktober 2020 - 1:48PM
Dow Jones News
By Kim Richters
Siemens AG said Thursday that it is selling its subsidiary
Flender GmbH to investment firm Carlyle Group Inc. for an
enterprise value of 2.03 billion euros ($2.39 billion).
The German engineering giant expects the deal to close in the
first half of next year, subject to regulatory approvals.
"By selling Flender, we're successfully and rigorously
continuing our strategy to become a new, focused Siemens AG,"
Siemens Chief Executive Joe Kaeser said in a statement.
"Our plan of fixing the businesses ourselves by introducing the
structures used in small and midsized companies has proven
effective," he added.
Siemens said earlier this year that it intended to spin off and
publicly list the mechanical drive systems manufacturer
Flender.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 29, 2020 08:33 ET (12:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Siemens (TG:SIE)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Siemens (TG:SIE)
Historical Stock Chart
Von Apr 2023 bis Apr 2024