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Siemens agrees to sell Flender to Carlyle Group in $2.4 billion deal

ZURICH (Reuters) - Siemens SIEGn.DE has agreed to sell its Flender mechanical drives business to U.S. buyout group Carlyle Group CG.O for 2.025 billion euros ($2.39 billion), the German engineering group said on Thursday.

The sale is the latest step in Siemens's attempts to slim down its business to focus on factory automation, transportation, and smart buildings after floating its turbines and generators supplier Siemens Energy ENR1n.DE last month and spinning off its Healthineers SHLG.DE division in 2018.

Reporting by John Revill; Editing by Michelle Adair

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