SIEGY - Siemens in talks with buyout groups over Flender business - Reuters

Siemens (SIEGY) is reportedly in talks with Triton and other buyout groups to sell its €1.5 - €2B transmissions maker Flender, as part of the company's plans to streamline its operations. The business has EBITDA of just above €200M and could be valued at 8x-9x.Siemens has asked Triton, Carlyle, CVC and Brookfield to submit final offers next week.Flender supplies Winergy branded gear boxes and generators for wind turbines, gears and couplings for cranes, ships, oil and gas production, as well as components for the chemicals, pharma, cement and food industries.Triton bought rival Renk earlier this year and has plans to use this company as a platform to consolidate transmissions makers, to reap synergies.Flender's long-term supply contracts with Gamesa are seen as a crucial element of determining the valuation of Flender.Also, if the offer comes in below Siemens’ expectations, it may opt to spin-out the business as a separately listed company.The conglomerate

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Siemens in talks with buyout groups over Flender business - Reuters