Media reports Siemens nearing billion-euro sale
To avoid internal competition in its wind turbine division, the German industrial group plans to spin off its transmission business rather than, as previously stated, listing it. The sale has prompted a bidding war.
Flender seems geared toward investment. In any event, several parties have made substantial bids on the business after Siemens AG decided to, according to Bloomberg News' information, divest its transmission-manufacturing subsidiary. US-based Carlyle is said to have outbid Canada's Brookfield with an offer of around EUR 2 billion, writes Bloomberg citing sources with knowledge of the process.
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