Siemens Energy to Divest Industrial Unit
Siemens Energy plans to divest its Transformation of Industry division to concentrate on high-margin power generation and grid equipment. The unit accounts for 5.7 billion euros in sales. The company may bring in external investors or pursue a capital markets transaction.
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SIEMENS ENERGY AG plans to divest its industrial supply division in Germany, moving to focus entirely on power grids and gas turbines. The planned spinoff involves a unit generating €5.7 billion ($6.7 billion) in annual sales.
