The company has revenues of €900m, enterprise value of €300m and EBITDA of €60m, with close to 3,600 staff. Bids of around €100m are due this month, it said, in what is expected to be an all-equity deal.
The division is being divested as part of a wider streamlining of Siemens’ business and its increased focus on its core operations, the company confirmed last year.
“There are very limited synergies with other Siemens business due to the high mechanical content and focus on system integration,” said Joerg Ernst, CEO of Siemens’ Logistics and Airport Solutions Unit
Siemens said it is looking for the best owner that is willing to invest and probably create “higher synergies” for a “sustainable growth perspective”.
The core business comprises mail and parcel logistics and automation, airport logistics with baggage handling, air cargo handling and IT solutions as well as the overall customer services.
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