May 27, 2014 / 7:46 PM / 4 years ago

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

FRANKFURT (Reuters) - German engineering company Siemens (SIEGn.DE) is ready to sell a 50 percent stake in household goods company BSH to private equity or rival Samsung if partner Bosch [ROBG.UL] 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 (005930.KS) the paper added.

    Siemens and Bosch both declined comment.

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

    Reporting by Edward Taylor, editing by David Evans

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