Germany's Deutz sells boat engine unit to Japan's Yamaha Motor

DPA
·1 min read
Logo of the Japanese company 'Yamaha' is seen at the trade show for consumer electronics and home appliances IFA. Robert Schlesinger/ZB/dpa
Logo of the Japanese company 'Yamaha' is seen at the trade show for consumer electronics and home appliances IFA. Robert Schlesinger/ZB/dpa

German engine manufacturer Deutz has sold its boat engine subsidiary to Japanese supplier Yamaha Motor Co. for a price slated to be in the high double-digit million euro range, the Cologne-based business said on Friday.

The move was expected, with Deutz saying it plans to focus more on classic engines and its service business.

The sale is expected to be finalized towards the end of the first quarter and should result in a book profit in the lower double-digit million euro range.

The unit, which specializes in electric boat engines, recently weighed on Deutz's figures.

The Deutz share rose by 0.3% in the SDax listing of small and medium-sized companies in Germany.