Overview
Siemens Energy AG announced that it has engaged Goldman Sachs Group to advise on a potential sale of a majority stake in its Transformation of Industry division, which comprises the steam turbine and compressor businesses.
Division Profile
The Transformation of Industry division is described as the world’s largest manufacturer of industrial steam turbines and generators and the second‑largest maker of compressors. It generated €2.7 billion in revenue in the six months ended March, representing 13.5 % of Siemens Energy’s total €20 billion sales, and employs approximately 17,000 people.
Transaction Intent
The company plans to hold a board meeting on Tuesday, 25 August 2026, to decide how to proceed with the divestment. It is considering selling around 60 % of the division’s shares while retaining the remaining 40 %. Possible transaction structures include a spin‑off or an initial public offering. The stake sale could be valued at more than €10 billion (approximately $11.7 billion).
Potential Bidders
According to Bloomberg, several private‑equity firms are evaluating the opportunity, including CVC Capital Partners, EQT, Bain Capital, Brookfield and KKR. The report notes that there is no certainty that any of these firms will submit formal offers.
Market Reaction
Following the news, Siemens Energy shares rose 1.4 % in early German trading on Tuesday.
Additional Context
The announcement follows a report two months earlier by Manager Magazin that the company was already contemplating a spin‑off of the division to generate higher margins and greater shareholder value over the long term.