Management buy-out specialist Kohlberg Kravis Roberts & Co has, as expected (CI No 3,771), emerged as the buyer for Siemens AG’s Siemens Nixdorf Retail and Banking Systems GmbH division. The unit will be acquired for about $795m. KKR is the leader of a consortium of investors, also including Goldman Sachs & Co’s GS Capital Partners LP. The Nixdorf business holds the number two slot in Europe’s automatic teller machine business. The sale was necessary before final approval by the European Union Commission of Siemens’ joint hardware venture with Fujitsu Ltd, although Siemens has been talking about the sale for months as part of its wide ranging restructuring efforts (CI No 3,760).
