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Siemens Energy to Sell Steam Turbine Unit

Siemens Energy logoSiemens Energy
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Siemens Energy is preparing to divest a controlling interest in its steam turbine business, working with Goldman Sachs on the sale process. The unit makes steam turbines, generators and compressors and generated about €5.7 billion in revenue in the company’s latest fiscal year. If the deal closes at around a €10 billion price tag, Siemens could channel funds toward the power grid and renewables, while the steam turbine business continues under new ownership.

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