Deutz to sell Torqeedo unit to Yamaha Motor

Deutz AG

19/01/2024 11:19

Jan 19 (Reuters) - Deutz  DEZG.DE  has agreed to sell
electric drive specialist Torqeedo to Japan's Yamaha Motor
 7272.T , the German engine producer said on Friday. 
    The proceeds from the deal, which is expected to be closed
within the first quarter of the current year, would be in a high
double-digit million-euro amount, it said in a press release. 
    Shares in Deutz were up 6.6% at 11:07 GMT.  
    Deutz said it now plans to focus on growing its traditional
optimized combustion engine business further, developing an
emission-free product range, and expanding its service business.
    
    
     

 (Reporting by Tom Kaeckenhoff, Writing by Andrey Sychev,
Editing by Linda Pasquini)
 ((andrey.sychev@thomsonreuters.com;))