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KPMG to advise Siemens on auction of car-parts unit

KPMG is poised to advise Siemens, Germany's largest consumer electronics group, on the auction of its car parts unit, in a move that would give KPMG's UK-based corporate finance unit a significant boost in the German mid-market.

Analysts are predicting that the potential sale price of Mannesmann Sachs, Siemens' car-parts unit, will be up to €1.6bn ($1.4bn). This would be one of KPMG's largest German mandates.

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