--Siemens plans to sell its large motors business Innomotics to U.S. private-equity firm KPS Capital Partners for around $3.25 billion, German newspaper Handelsblatt first reports, citing unnamed sources close to the matter.

--The deal will be officially communicated on Thursday, according to Handelsblatt.

--KPS invests primarily in industrial companies and was advised by U.S. asset manager Lazard and Bank of America for the sale of Innomotics.

--Siemens declined to comment when approached by Dow Jones Newswires. KPS Capital Partners didn't immediately respond to requests for comment.


Full story in German: https://bit.ly/3wDzIwR


Write to Helena Smolak at helena.smolak@wsj.com


(END) Dow Jones Newswires

05-15-24 0645ET