Siemens Energy appointed Goldman Sachs to manage the sale process for a majority stake in its Transformation of Industry division, which includes industrial steam turbines, generators and compressors.
The move follows a board meeting on Tuesday to review strategic options for the unit, which generated €2.7 billion in revenue during the six months to March and employs 17,000 people worldwide. The division accounted for 13.5% of Siemens Energy’s total sales of €20 billion over the same period.
Any stake sale could be valued at more than €10 billion, according to people familiar with the matter. Potential bidders include private equity firms CVC Capital Partners, EQT, Bain Capital, Brookfield and KKR, though no formal offers have been made and deliberations remain ongoing.
The company is also considering alternative structures, including a spin-off or partial initial public offering, with reports suggesting a potential 60% divestment while retaining a 40% stake. Earlier this year, an internal review cited by Manager Magazin concluded that separating the division would improve margins and enhance long-term shareholder value.
Shares of Siemens Energy rose 1.4% in early German trading on Tuesday as investors reacted to the strategic update.
