Kohlberg Kravis Roberts (KKR) has agreed to acquire seven businesses from Siemens in a transaction worth €1.69bn ($1.69bn), in what may be the first of two deals to be agreed this week.

In addition to the Siemens deal, KKR has teamed up with Wendel Investissements, the French investor, and has been negotiating to buy Legrand from Schneider, the French electrics company, for €3.7bn and €1.3bn to refinance existing debt. The exclusive negotiations were due to close this Tuesday, July 23, but have been extended until Friday.