(CercleFinance.com) – Siemens announces an agreement with Meritor to divest it of its utility vehicle business, ‘another step in the rigorous implementation of its previously announced plan to refine its portfolio as a focused technology company’.
The agreed price for the transaction is approximately €190 million in enterprise value, subject to working capital adjustments. It is expected to be finalized, subject to regulatory approvals, by the end of this calendar year.
Employing around 200 people, Siemens’ commercial vehicle business develops, designs and produces high-performance electric drive systems for buses, trucks, as well as construction and off-road vehicles.
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