CG - Siemens looks to offload Flender after energy spinoff

As part of the industrial conglomerate's plans to streamline its operations, Siemens (SIEGY) is in talks to sell transmissions maker Flender, sources told Reuters.The company has asked Triton (TRTN), Carlyle (CG), CVC and Brookfield (BAM) to submit final offers next week for the business, which has EBITDA of just above €200M and could be valued at 8-9 times that.The trains to industrial software maker has simplified its structure in the past few years, floating its turbines and generators supplier Siemens Energy last month after spinning off its Healthineers division in 2018.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.

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Siemens looks to offload Flender after energy spinoff