Siemens to Sell Metering Business and Six Other Units to U.S. Equity Firm KKR

Siemens AG said it is selling several noncore businesses, including its metering business, to U.S. private equity firm Kohlberg Kravis Roberts & Co. (KKR) for $1.69 billion.

The businesses will be transfered to a new Luxembourg-based holding company called Demag Holding in which KKR will have an 81 percent stake and Siemens a 19 percent stake, but they will be separately managed.

Siemens Metering is headquartered in Zug, Switzerland, and is a product business of Siemens' P

All access premium subscription

Only Electrical Marketing newsletter subscribers have access to premium content.


Being a subscriber to the Electrical Marketing newsletter allows you exclusive access to high value content including key economic indicators measuring the health of the market and access to the Electrical Price Index and other important industry insights.

Sign up for the Electrical Marketing newsletter to get access.

TAGS: archive
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish