March 11 (Reuters) - Japan's Nidec Corp and U.S.-based private equity firm KPS Capital Partners are competing to acquire Siemens AG's Innomotics large motors business, which could fetch about 3 billion euros ($3.28 billion) in a sale, Bloomberg News reported on Monday, citing people familiar with the matter.

($1 = 0.9149 euros) (Reporting by Urvi Dugar in Bengaluru; Editing by Sherry Jacob-Phillips)