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Monday, January 28, 2013

Siemens picks banks for two disposals - sources, (NYSE: SI)

Siemens AG has picked banks to organise the sale of two units as part of its efforts to streamline operations and stay competitive in a weak global economy, people familiar with the matter said.Goldman Sachs Group Inc will advise the German conglomerate on the sale of its Water Technologies units, while Rothschild will oversee the divestment of its smaller security products arm, which makes access card readers and technology for intruder detection and surveillance, the sources said on Monday.Siemens, Goldman and Rothschild all declined comment.Siemens, which ranks as Germany's second-most valuable company and which makes products ranging from trains to hearing aids, late last year announced the plan to divest several units in a bid to focus on its most profitable businesses.

Siemens AG is an integrated technology company with activities in the fields of industry, energy and healthcare. Shares of SI remained unchanged at $110.25. In the past year, the shares have traded as low as $77.88 and as high as $112.73. On average, 308057 shares of SI exchange hands on a given day and today's volume is recorded at 0.