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Knorr-Bremse Kiepe deal

The sale of Vossloh’s Electrical Systems business (Vossloh Kiepe) to Knorr-Bremse was completed on 31 January, following approval by German authorities.

The sale of Vossloh’s Electrical Systems business (Vossloh Kiepe) to Knorr-Bremse was completed on 31 January, following approval by German authorities. The deal, worth EUR72.5m in cash and including a EUR25m variable performance component, reduces the net debt of the Vossloh Group by EUR45m.
Having sold its Valencia-based Rail Vehicles business to Stadler Rail in 2015, Vossloh is still in negotiations for the disposal of its Locomotives division as it refocuses on rail infrastructure.