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Siemens sells Flender Carlyle for two billion euros – Siemens shares lighter | 29/10/2020

Siemens technology group sells its subsidiary Flender to American investor Carlyle.

Siemens announced on Thursday in Munich that the price was € 2.025 billion. The transaction is to be finalized in the first half of 2021. antitrust approvals. As part of the sale, Carlyle has made long-term and reliable commitments to Flender and his employees.

Siemens made available in May the possibility of spinning off the Flender company and debuting on the stock exchange. In early August he had a company boss Joe Kaeser said management is not closed to other options. Flender employs approximately 8,600 people worldwide and achieved pro forma sales of approximately EUR 2.2 billion in fiscal 2020.

For the Munich-based company, sales represent the next in many stages of increasing focus on future areas such as digitization, Automation and infrastructure. Recently, at the end of September, Siemens separated its energy division and made its debut on the stock exchange.

In XETRA trading, Siemens shares temporarily fell 0.58 percent to EUR 99.52

/ us / mis


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