Morgan Stanley has won its second significant mergers and acquisitions mandate from Siemens, the German engineering company, advising it on a $993m (€834m) acquisition from a subsidiary of French conglomerate Veolia Environnement.

Last week, Siemens hired Morgan Stanley's Paris office to look at potential asset purchases from Alstom, its troubled French competitor. Morgan Stanley also ran a €2.5bn convertible for Siemens with UBS last year.