Sunday November 14, 2021
Concentration on the core business
Siemens before the sale of the traffic light technology division
According to a newspaper report, Siemens is promoting the sale of its subsidiary Yunix. There should be a total of five interested parties for the division. The bids are said to be below what Siemens had hoped for.
According to a newspaper report, Siemens shortlisted five bidders for its road traffic technology subsidiary Yunex. You should now submit binding offers until shortly before Christmas, reported the “Handelsblatt”, citing financial circles. The previous bids for Yunex, which has been split off from the railway technology division, are between 550 and 600 million euros, including debts. According to earlier information, Siemens had hoped for more than 700 million euros.
According to the report, the initially successful prospects are the competitor Cubic, which belongs to the investment companies Veritas Capital and Evergreen Coast Capital, the Italian toll road operator Autostrade, the financial investors KKR and Bridgepoint and the Czech industrial holding PPF. Siemens did not want to comment on the information.
The Munich technology group wants to part with Yunex because its products from traffic lights to traffic control systems and toll systems do not fit the core business of the Mobility train division. The turnover was last at more than 600 million euros, the company is profitable. “We have grown successfully in recent years, but our business requires more flexible, medium-sized structures,” said Yunex boss Markus Schlitt of the Reuters news agency.