Deals
Brookfield, Carlyle Said to Compete for Siemens’s Flender Unit
- Mechanical drive unit could be valued at up to 2 billion euros
- Siemens could make decision on winning bidder this month
Photographer: Krisztian Bocsi/Bloomberg
This article is for subscribers only.
Brookfield Asset Management Inc. and Carlyle Group Inc. are the final bidders for Siemens AG’s mechanical drive unit, according to people familiar with the matter, in a deal that could fetch as much as 2 billion euros ($2.4 billion) for the German industrial conglomerate.
The investment firms beat out rival suitors to progress to the final bid round for the Flender business, the people said, asking not to be identified as the matter is private. Siemens is expected to make a final decision as soon as this month and could still pursue other options for Flender, including a spinoff, the people said.