Siemens SIE -1.65%decrease; red down pointing triangle agreed to sell its Innomotics large motors business to private-equity firm KPS Capital Partners for 3.5 billion euros ($3.81 billion), including debt, the latest move by the German industrial giant to reshuffle its portfolio.
Europe’s largest industrial company has been looking to simplify its sprawling operations in recent years. It listed separately its energy and health technology units, Siemens Energy ENR -1.26%decrease; red down pointing triangle and Siemens Healthineers SHL -1.88%decrease; red down pointing triangle, and offloaded smaller businesses such as Flender and its mail-and-parcel logistics unit.
Source: REUTER
