Siemens is preparing for the outright sale of its VDO components division, and has asked interested parties to submit firm offers.

According to dpa-AFX, offers are being requested in writing, ahead of the next Siemens supervisory board meeting on 25 April.

Siemens had been planning a partial IPO of Siemens VDO, but this generated interest from two other major component suppliers, Continental and TRW, who said they would like to acquire the company in its entirety. US private equity firm Blackstone also expressed an interest.

According to Financial Times Deutschland, Siemens VDO is expected to attract a price of '10s' of billions of euros. VDO has a turnover of around EUR10bn.

Siemens had been expecting to raise around EUR2bn from an IPO.