# Power Machines to sell stake in Siemens joint venture

Power Machines is negotiating the sale of its 35% stake in the Siemens Gas Turbine Technologies (STGT) joint venture to Siemens, with an estimated value of $5-6 million.

- Type: Acquisition
- Announced: 2020-03-02
- Where: Russia
- Value: $6.00M
- Status: announced
- Products: gas turbines
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Power Machines](https://endata.com/companies/15083.md)
- [Siemens](https://endata.com/companies/301.md) (acquirer)

## Sources

- [en.topcor.ru](https://en.topcor.ru/13409-silovye-mashiny-vyhodjat-iz-sp-s-siemens-i-stanovjatsja-konkurentami-nemcev.html), 2020-03-02: "The share of Power Machines can be estimated at 5-6 million dollars."
- [russiabusinesstoday.com](https://russiabusinesstoday.com/manufacturing/power-machines-pulls-out-of-siemens-jv-report/), 2020-03-02: "Power Machines has decided to fully withdraw from its joint venture with a subsidiary of Siemens."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.