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CG - Siemens sells Flender to Carlyle in $2.4B deal
Carlyle Group Inc (The) - Ordinary Shares
Siemens (SIEGY) agrees to sell its Flender mechanical drives business to Carlyle Group (CG) for €2.03B ($2.39B), confirming earlier speculation."By selling Flender, we're successfully and rigorously continuing our strategy to become a new, focused Siemens," CEO Joe Kaeser says.The sale is the latest step in Siemens' effort to focus on factory automation, transportation and smart buildings, after floating its Siemens Energy turbines and generators supplier last month and spinning off its Healthineers division in 2018.