Siemens gets his business with postal and airport logistics are not from the farm. Most recently, the U.S. investor Wilbur Ross was a favorite. But the pokered so high at the finish line that Siemens pulled the ripcord.
Hamburg - Up to eleven billion Euros, Siemens CEO Joe Kaeser want for the French rival Alstom Show Chart offer. In parallel, he plays poker for a possible sale of Siemens' stake in the joint venture Bosch Siemens Home Appliances (BSH) to Stuttgart Bosch Group. A much smaller transfer issue, however, is likely to continue to cause headaches Siemens now: The sale of postal and airport logistics, Siemens is promoting since November 2012, according to information of manager magazin online burst from financial circles for the time being.
Last ran about the low-margin business with 3600 employees and 900 million euros in sales only final negotiations with the U.S. financial investor Wilbur Ross. However, the presented shortly before the final whistle as many additional claims that Siemens few days ago pulled the ripcord.
"Now there is silence," it said in a party. The fact that the negotiations would be resumed, is unlikely. A Siemens spokesman did not comment on the information.
Sale is for cliffhanger
Actually, Kaeser goal with announcement of its new strategy on May 7, to report, to the sale of postal and airport logistics execution. This failed, but the participants were optimistic at the time, to come to a conclusion in May.
The sale will be so for the already difficult business with equipment for the mail and baggage sorting increasingly harmful to the cliffhanger - what the Group is not uninvolved. "Siemens tends always to optimize over at division sales," it says in the investment community.
So negotiations with the German-Swedish investor Triton 2013 were already well advanced. But then Wilbur Ross Siemens appeared but as the more promising buyers. Here Ross is known in the industry investors, at the end like to renegotiate times.
Complicating the process also, that the division has developed in the course of the negotiations weaker than initially represented by Siemens. The Information Memorandum According to the Siemens mailed to prospective buyers from the fall of 2013, 2013, earnings before interest and taxes (EBIT) to EUR 25 million of which has more than halved. 2012 were available for the bit more than 50 million euros. Nevertheless, Siemens forecast in the memo for 2014 EBIT of 62 million euros - which turned out according to financial circles but soon to be far too optimistic out.
Compared with their own works, Siemens CEO Kaeser had promised that Siemens would provide the division on the sale financially sound and also retain a minority.