Siemens: sells stake in Primetals Technologies
(CercleFinance.com) - Siemens announces the conclusion of an agreement with Mitsubishi-Hitachi Metals Machinery (MHMM), whereby the latter will acquire the 49% stake of the German industrial conglomerate in Primetals Technologies.
Subject to customary conditions, this transaction - whose financial details have not been disclosed - is expected to be finalised at the start of 2020. MHMM will then hold all of Primetals Technologies' capital.
Formed in January 2015 through a merger between MMHM and Siemens VAI, Primetals Technologies specialises in engineering, plant construction and life cycle services for the metals industry.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Subject to customary conditions, this transaction - whose financial details have not been disclosed - is expected to be finalised at the start of 2020. MHMM will then hold all of Primetals Technologies' capital.
Formed in January 2015 through a merger between MMHM and Siemens VAI, Primetals Technologies specialises in engineering, plant construction and life cycle services for the metals industry.
Copyright (c) 2019 CercleFinance.com. All rights reserved.