Knorr-Bremse has completed the sale of its subsidiary Kiepe Electric to Heramba, this is reported by the railway transport news portal Railway Supply.

Knorr-Bremse has sold its subsidiary Kiepe Electric

Kiepe Electric, specializing in electrical equipment for railway and automotive transport, with an annual turnover of 120 million euros, was deemed a successful business not aligned with Knorr-Bremse’s core activities.

Following the transaction, Knorr-Bremse retains a 15% stake in Kiepe Electric. The agreement between the companies was signed in August 2023.

Heramba, an investment company, is in the process of merging with PERAC Corporation, enabling it to list on the NASDAQ stock exchange without an IPO.

Photo: Kiepe Electric

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