The sale of Siemens Commercial Vehicles business to Meritor closed successfully on November 30. In May 2022, Siemens had announced the contract signing to sell Commercial Vehicles business to Meritor, Inc. for a purchase price of around €190 million (Enterprise Value).
“The successful sale of our Commercial Vehicle business to Meritor, which has now become part of Cummins, is another demonstration of how Siemens focuses on portfolio optimization and the best-owner principle. We are proud to have found Meritor and Cummins as the ideal new owner for our Commercial Vehicles business to continuously foster the unit’s technology and growth story,” said Ralf P. Thomas, Chief Financial Officer of Siemens AG.
Source link: https://press.siemens.com/