GEA Group AG agreed to sell its heat-exchangers unit to private-equity firm Triton Advisers Ltd. at an enterprise value of 1.3 billion euros ($1.8 billion) and will use the proceeds for purchases as it focuses on food- processing equipment.
GEA Group AG is nearing an agreement to sell its heating-exchangers unit to private-equity company Triton Advisers Ltd. as it seeks to focus on its food- processing equipment business, according to people familiar with the situation.
Siemens AG plans deals with software makers to plug technology gaps in its service business this year as Europe’s largest engineering company seeks to accelerate revenue growth from Web-connected factories.
Deutsche Lufthansa AG, Europe’s second-largest airline, will cancel 3,800 flights this week, affecting 425,000 passengers, as it braces for a three-day strike by pilots seeking better wages and retirement benefits.
As the European Union steps up its response to Russian president Vladimir Putin’s annexation of Crimea, German companies are urging caution lest sanctions harm their business ties -- and Europe’s shaky economic recovery.