Siemens may pursue a dual strategy of offering its automotive component division, Siemens VDO, for outright sale, and for listing it on the stock exchange (IPO).
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Financial Times Deutschland said Siemens is considering appointing an investment bank to oversee the sale on which Goldman Sachs is currently advising.
The decision reportedly followed advice that New York stock exchange rules required Siemens to seek the highest price for the group or face costly litigation by US shareholders. Siemens has said it favours an IPO but Continental and TRW have both expressed interest in acquiring the group outright. A decision is expected by May.
The sale of Siemens VDO, with its turnover of EUR10bn, is expected to be the largest M&A transaction in Germany this year.
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By GlobalData
