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Carlyle Nears $2.4 Billion Deal for Siemens’s Flender Business

  • Agreement for mechanical drive unit could be announced in days
  • U.S. buyout firm outbid Brookfield Asset Management on deal
Siemens CEO Joe Kaeser
Siemens CEO Joe KaeserPhotographer: Michaela Handrek-Rehle/Bloomberg
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Carlyle Group Inc. is nearing an agreement to acquire Siemens AG’s Flender mechanical drive unit for about 2 billion euros ($2.4 billion), according to people familiar with the matter.

The U.S. buyout firm and the German engineering giant are finalizing terms of the deal, which could be announced as early as this week, the people said, who asked not to be identified because discussions are private.