Heating and Ventilating

Siemens has agreed to buy the London-based investment firm Ecofin's majority stake in thermal power firm Solel Solar Systems for $418 million (USD).
The transaction is expected to close by the end of the year.

Ecofin acquired the 63% share in the Israeli solar thermal company in January 2008.

'Siemens and Solel have complementary areas of expertise and will form a powerful combination going forward,” said chief investment officer of Ecofin, Bernard Lambiliotte.