# Siemens Energy sells 65% stake in Russia-based gas turbine JV to local state firm

Siemens Energy sold a 65% stake in a Russia-based gas turbine joint venture to a local state firm.

- Type: Acquisition
- Announced: 2022-10-14
- Where: Russia, Russia
- Status: completed
- Products: gas turbines
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Siemens Energy](https://endata.com/companies/6803.md)
- [Power Machines](https://endata.com/companies/15083.md) (partner)
- [InterRAO](https://endata.com/companies/50267.md) (acquirer)

## Sources

- [reuters.com](https://www.reuters.com/markets/deals/siemens-energy-sells-majority-stake-russia-based-joint-venture-2022-10-14/), 2022-10-14: "Siemens Energy has sold a 65% stake in a Russia-based gas turbine JV to a local state firm."
- [financialpost.com](https://financialpost.com/pmn/business-pmn/siemens-energy-sells-russia-based-gas-turbine-jv-to-local-state-firm), 2022-10-14: "Siemens Energy has sold a 65% stake in a Russia-based gas turbine joint venture to local state company InterRAO, in line with its strategy to exit the country."

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