# Siemens Limited approves sale of low voltage motors business to Siemens AG subsidiary

Siemens Limited's board approved the sale of its low voltage motors and geared motors business to Siemens Large Drives India Private Limited, a Siemens AG subsidiary, for Rs. 2,200 crore, effective 1 October 2023.

- Type: Acquisition
- Announced: 2023-05-19
- Where: India
- Value: $264.0M (22.0B INR)
- Status: announced
- Products: low voltage motors, geared motors
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Siemens](https://endata.com/companies/301.md) (partner)
- [Siemens](https://endata.com/companies/301.md) (target)
- [Siemens Large Drives India Private Limited](https://endata.com/companies/70387.md) (acquirer)

## Sources

- [press.siemens.com](https://press.siemens.com/in/en/pressrelease/siemens-limiteds-board-directors-approves-sale-low-voltage-motors-and-geared-motors), 2023-05-19: "The Board of Directors of Siemens Limited has approved the sale and transfer of low voltage motors and geared motors businesses including related customer service business to Siemens Large Drives India Private Limited, an entity wholly owned by Siemens AG, for a consideration of Rs. 2,200 crore with"

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