Siemens to Divest its Stake in Krauss-Maffei Wegmann

Source: www.gulfoilandgas.com 12/17/2010, Location: Europe

Siemens is selling its 49 percent stake in Krauss-Maffei Wegmann GmbH & Co. KG (KMW) to the Wegmann Group, which already holds a 51 percent stake in KMW. Both parties have agreed not to disclose the purchase price. The transaction still requires approval by the anti-trust authorities and is expected to be completed in the first quarter of calendar year 2011.

“With this transaction, we continue to diligently execute on our strategy to focus on our core areas energy management and environmental care, industrial infrastructure and healthcare,” said Siemens Chief Financial Officer Joe Kaeser. Siemens acquired its minority stake in KMW in the spring of 2001 in the course of the Atecs-Mannesmann transaction.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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