Market Chatter: Buyout Firms Consider Bids for Siemens Energy's Steam Turbine
Siemens Energy's steam turbine business could draw majority-stake bids from investment firms CVC Capital and EQT (EQT) AB, Bloomberg reported Tuesday, citing people familiar with the matter.Its Transformation of Industry division may attract offers from Bain Capital (BCSF), Brookfield (BN), and KKR (KKR), according to the report.The company's board of directors is set to meet on Tuesday to discuss possible divestments, while buyout firms' offers remain uncertain, sources told the news agency. The Transformation of Industry division could reportedly be valued at more than 10 billion euros ($11.67 billion)."No decisions have been made. We will communicate any material developments," a Siemens Energy spokesperson told. Siemens' financial adviser for the potential deals is Goldman Sachs (GS).Bain Capital, KKR, and CVC declined to comment, while EQT, Brookfield, and Goldman Sachs did not immediately respond to requests for feedback.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
