Valmet Oyj (HLSE:VALMT) agreed to acquire Process Gas Chromatography Business from Siemens Aktiengesellschaft (XTRA:SIE) for ?102.5 million on July 14, 2023. The transaction is based on cash and debt-free basis. Process Gas Chromatography Business generated the revenue of approximately ?120 million for the year ended 2022. The Process Gas Chromatography business is planned to be integrated into Valmet's Automation Systems business line as a separate business unit. The deal is subject to completion of carve-out measures and customary closing conditions and is estimated to be completed on or before April 1, 2024. Christian Krebs of Jones Day acted as legal advisor to Valmet Oyj (HLSE:VALMT). Moelis & Company Germany GmbH acted as financial advisor to Siemens Aktiengesellschaft (XTRA:SIE). Jakub Lorys, Thomas Gierath, Bernhard Trappehl and Anahita Thoms of Baker & Mckenzie Partnerschaft Von Rechtsanwälten Wirtschaftsprüfern,Steuerberatern Und Solicitors acted as legal advisor to Siemens Aktiengesellschaft (XTRA:SIE).

Valmet Oyj (HLSE:VALMT) completed the acquisition of Process Gas Chromatography Business from Siemens Aktiengesellschaft (XTRA:SIE) on April 2, 2024. The acquired business is integrated into Valmet?s Automation Systems business line as a business unit and will be called Analyzer Products and Integration.