M&A M&A
Siemens sells motors business to Innomotics India for Rs.2,200-Cr
Source Siemens (opens in a new tab)Economic Times (opens in a new tab)
Siemens has completed the sale of its low-voltage motors and geared motors business to Innomotics India. The transaction, valued at INR 2,200 crore, was executed as a slump sale on a cash-free, debt-free basis.The business includes the manufacturing operations, as well as related customer service functions.Siemens is a Munich, Germany-headquartered global technology firm focused on industry, infrastructure, transport, and healthcare.