By Patrick Chu

Siemens AG said it will sell the mail and parcel business of Siemens Logistics GmbH to the Körber Group for an enterprise value of EUR1.15 billion ($1.3 billion).

Siemens said the sale is part of its strategy to become more focused on technology. The deal is expected to close this year, subject to regulatory approvals, the company said.

Write to Patrick Chu at Patrick.Chu@WSJ.com

(END) Dow Jones Newswires

February 09, 2022 15:47 ET (20:47 GMT)

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