Siemens Said to Plan $800 Million Water Tech Sale to AEA

Published on October 25, 2013 04:06 by Water Network Research, Official research team of The Water Network in Business

Siemens AG (SIE), Europe's largest engineering company, plans to sell its water-technologies division to AEA Investors as it focuses on higher-margin businesses, according to two people familiar with the matter.

The deal may value the unit at about $800 million and could be announced this week, the people said, asking not to be identified as the talks are private. Siemens and AEA, a New York-based private-equity firm, declined to comment on a potential deal.

Siemens, which replaced Chief Executive Officer Peter Loescher with finance chief Joe Kaeser in August, is also selling other units as it focusses on businesses it deems to have better growth prospects. The water technologies unit, including wastewater, municipal and industrial water purification services as well as membrane filtration systems, was put up for sale in 2012.

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