BRIEF-Invensys to sell rail unit to Siemens for 1.74 bln stg

LONDON Nov 28 (Reuters) - Invensys PLC : * Proposed disposal of Invensys rail * Invensys agrees to dispose of Invensys rail to siemens for £1,742 million * Up-front payment of £400 million, and payment of £225 million to a trust * Proposed return of cash to shareholders of £625 million * Significant run-rate cost savings of £25 million per annum by the end of FY

2014 * Completion expected in second quarter of calendar 2013