Siemens sells enterprise networks div to group company

New Delhi, Feb 2 (UNI) Siemens Ltd has decided to sell the company's Communications Enterprise Networks Division to Siemens Enterprise Communications Pvt Ltd, a wholly-owned subsidiary of its parent company, Siemens AG, Germany, for a total consideration of Rs 58 crore.

This is subject to approval of the shareholders of the company.

The sale will come into effect from April 1, 2007, a statement said.

Till that time, the Communications Enterprise Networks business will continue to be a part of the company.

UNI