Siemens: sells stake in Primetals Technologies

(CercleFinance.com) - Siemens announces the conclusion of an agreement with Mitsubishi-Hitachi Metals Machinery (MHMM), whereby the latter will acquire the 49% stake of the German industrial conglomerate in Primetals Technologies.


Subject to customary conditions, this transaction - whose financial details have not been disclosed - is expected to be finalised at the start of 2020. MHMM will then hold all of Primetals Technologies' capital.

Formed in January 2015 through a merger between MMHM and Siemens VAI, Primetals Technologies specialises in engineering, plant construction and life cycle services for the metals industry.


Copyright (c) 2019 CercleFinance.com. All rights reserved.