Siemens: sale of Innomotics to KPS successfully completed

(CercleFinance.com) - Siemens announces that it has successfully completed the sale of Innomotics to KPS Capital Partners (KPS) for 3.
5 billion euros (enterprise value).

Last May, Siemens announced its intention to sell this global supplier of electric motors and large propulsion systems to KPS.

' I am delighted that the sale of Innomotics to KPS has been successfully concluded. This is an important step in optimizing our portfolio, and underlines our ongoing commitment to combining the real and digital worlds', said Ralf P. Thomas, CFO of Siemens AG.

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