BERLIN, Oct. 29 (Xinhua) -- German technology company Siemens said Thursday it sold its subsidiary company Flender, a leading global supplier for mechanical and electrical drive systems, to U.S. investor Carlyle for around two billion euros.
Both sides signed a corresponding agreement, according to Siemens. The agreed purchasing price was 2.025 billion euros (2.368 billion U.S. dollars) and the transaction, still subject to foreign-investment and antitrust approvals, was expected to be completed in the first half of 2021.
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