H4-HV13-B ew continued Interior preservation of gear units Helical speed reducers H4

Flender/Flender Gear Units/Helical speed reducers H4

ica. In South Africa, Flender operates through Flender (Pty) Ltd (Flender SA) . 3 [7] Flender globally supplie mechanical and electrical drive systems and offers wide range of gear units, couplings and generators, and associated services, with focus on key industries such as wind power, cement, mining, oil and gas, power generation, water and wastewater, marine, conveyor and crane technology. Flenders business peration are divided into the following categories: 7.1 Wind - Flenders wind business division develops, manufactures, and suppl ies components for wind turbines . 7.2 Industrial Flenders industrial division develops, manufactures and supplies mechanical com ponents, as well as provides services related to those component . [8] In South Africa, Flender suppl ies industrial gears and coupling products to the mining, cement, wastewater treatment and energy sectors. Flender has no manufacturing facilities in South Africa and its South African operations consist of warehousing, assembly and service workshops to support the needs of its local customers . Proposed transaction and rationale [9] Carlyle , through Zephyr, intends to acquire 1% of the issued shares in Flender. Post-merger , Carlyle will indirectly own 1% of the shares and voting rights in Flender and thereby solely control Flender. [1] The proposed acquisition , being an international transaction , has also been notified in China, the United States of America, Morocco, Europe and Turkey. [1] As the transaction is financial investment for Carlyle , its rational for the transaction is to benefit from the potential growth in the value of its investment. 4 [1] Siemens AG submitted that the transaction effects its growth -acceleration and value -creation strategy through the separation of its mechanical and electrical drive technology business. Impact on competition Horizontal analysis [1] The Commission, in its investigat