By Patrick Chu

 

Siemens AG said it will sell the mail and parcel business of Siemens Logistics GmbH to the Körber Group for an enterprise value of EUR1.15 billion ($1.3 billion).

Siemens said the sale is part of its strategy to become more focused on technology. The deal is expected to close this year, subject to regulatory approvals, the company said.

 

Write to Patrick Chu at Patrick.Chu@WSJ.com

 

(END) Dow Jones Newswires

February 09, 2022 15:47 ET (20:47 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Siemens (XE:SIE)
Historical Stock Chart
From Jan 2023 to Feb 2023 Click Here for more Siemens Charts.
Siemens (XE:SIE)
Historical Stock Chart
From Feb 2022 to Feb 2023 Click Here for more Siemens Charts.