Nidec, KPS compete for Siemens’ $3 billion Innomotics unit, Bloomberg reports
FILE PHOTO: Nidec Corp’s logo is pictured at an earnings results news conference in Tokyo, Japan, July 25, 2018. REUTERS/Kim Kyung-Hoon/File photo
SIEGY
-0.84%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
6594
-0.88%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
(Reuters) – Japan’s Nidec Corp and U.S.-based private equity firm KPS Capital Partners are competing to acquire Siemens AG (OTC:SIEGY)’s Innomotics large motors business, Bloomberg News reported on Monday.
The sale of the motors and drives business could fetch German engineering group about 3 billion euros ($3.28 billion), the report added, citing people familiar with the matter.
Nidec declined to comment, while KPS Capital Partners and Siemens did not immediately reply to Reuters’ requests for comment.
In November 2022, Siemens first announced the spin-out of the unit, which was created to compete with Switzerland’s ABB (ST:ABB) and Japan’s Yaskawa.
Innomotics is based out of Nuremberg, Germany, has around 15,000 employees worldwide and annual revenue of approximately 3 billion euros, according to its website.
($1 = 0.9149 euros)
