The government is planning to sell up to 15 per cent of its stake in railway engineering company IRCON International Ltd through an offer-for-sale of shares, an official said. The government currently holds 89.18 per...
Cyient gets Australia’s FIRB clearance, acquisition of IG Partners done
IT and engineering services company Cyient on Friday said it has received nod from the Foreign Investment Review Board (FIRB) of Australia and has completed the acquisition of Australian consulting firm IG Partners. In...
Siemens agrees to sell Flender to Carlyle Group in $2.4 billion deal
Siemens has agreed to sell Flender to U.S. buyout group Carlyle Group in a deal valuing the mechanical drives business at 2.025 billion euros ($2.39 billion), the German engineering group said on Thursday. The sale is...
Siemens, Carlyle near $2.4 billion deal over Flender business: Bloomberg
U.S. buyout group Carlyle Group Inc is nearing an agreement to acquire Siemens AG’s mechanical drive arm Flender, for about 2 billion euros ($2.37 billion), Bloomberg News reported citing sources. Siemens and...
Siemens in talks with buyout groups over Flender business: sources
Siemens is in talks with Triton and other buyout groups to sell its 1.5-2 billion euro ($1.8-$2.4 bln) transmissions maker Flender, people close to the matter said, part of the industrial conglomerate’s plans to...
Finland’s Konecranes and Cargotec to merge
Finnish engineering firm Konecranes and cargo handling machinery maker Cargotec plan to merge to help speed up innovation and reap savings, they said on Thursday, sending both of their shares sharply higher. The boards...
Valmet seeks merger with Neles, challenging Alfa Laval
Finland’s Valmet has approached valves maker Neles with a merger proposal, challenging a $2 billion bid that Neles’ board recommended from Swedish engineering group Alfa Laval in July. Valmet, Neles’ largest...
Bosch picks up 26% stake in SUN Mobility
German automotive component manufacturer Bosch has picked up a 26% stake in the Bangalore-based electric vehicle (EV) focused firm SUN Mobility, it said on Friday. In an official statement issued by Bosch, it said its...
Siemens sells mechanical drives business to Siemens AG subsidiary
Siemens’ board of directors have approved to sell the company’s mechanical drives (MD) business to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG. “The...
Siemens’ acquisition of C&S Electric India operations gets CCI approval
Fair trade regulator Competition Commission of India (CCI) on Thursday said it approved the proposed acquisition of C&S Electric by Siemens. As per a statement issued by Siemens in January, it had inked an agreement...
Sulzer buys Swiss-German device maker Haselmeier for $118 million
Sulzer said on Monday it would buy Swiss-German drug delivery device maker Haselmeier for an enterprise value of 100 million euros ($118 million) to boost its applicator systems business that has been hurt by a slump...
German group Allgeier SE’s iQuest and Nagarro merge operations in Romania
Digital engineering and technology solutions firm Nagarro and software development company iQuest — both members of the German group Allgeier SE — on Friday announced the merger of their operations in...
