May 27, 2014 / 7:35 PM / 3 years ago

Siemens keen to sell stake in household goods firm BSH -paper

1 Min Read

FRANKFURT, May 27 (Reuters) - German engineering company Siemens is ready to sell a 50 percent stake in household goods company BSH to private equity or rival Samsung if partner Bosch does not agree to buy it soon, German paper Frankfurter Allgemeine Zeitung said.

Siemens has been keen to exit BSH Bosch Siemens Haushaltsgeraete, a joint venture which makes vacuum cleaners, freezers, stoves and washing machines, since it undertook a strategic review, but Bosch has hesitated to buy, Frankfurter Allgemeine said, without citing sources.

As a result, Siemens Chief Executive Joe Kaeser is now ready to consider selling the stake to a third-party buyer, including rival Samsung the paper added.

Siemens and Bosch both declined comment.

BSH had annual revenue of 10.5 billion euros ($14.3 billion) in 2013.

$1 = 0.7345 Euros Reporting by Edward Taylor, editing by David Evans

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