Kohlberg Kravis Roberts & Co LP (KKR), an international leveraged buy-out specialist talking to Siemens AG about the possible acquistion of the German electronics group’s commercial and banking automation arm, Siemens Nixdorf Retail and Banking Systems GmbH. KKR is also rumored to be in talks with German autopart manufacturer Robert Bosch GmbH to acquire its telecoms equipment business, Bosch Telecom GmbH, of which US networking equipment and component makers Cisco Systems Inc and Motorola Inc bought the US arm in June (NBD 06/08/99).
Munich-based Siemens yesterday confirmed that it was in discussions with KKR and a further partner for the sale of its Nixdorf business, for which the investment intention was announced as part of a group restructuring plan unveiled in November last year. It declined, however, to comment on the price, which press speculation suggested was between $750m and $810m.
Stuttgart-based Bosch would not comment on potential buyers of its telecoms arm. It admitted that talks were underway with international partners regarding the future of the public and private networks and terminals products group of its communications technology busines, but said that a number of options including outright sale and the entry of new shareholders, were being studied.
KKR, which has offices in New York, Menlo Park, California and London, raised some $2.8bn in funds at the beginning of this month, specifically to finance acquisitions in Europe.
