RTTNews | Oct 29, 2020 11:54AM EDT

11:53 Thursday, October 29, 2020 (RTTNews.com) - Global investment firm the Carlyle Group (CG) said that it has agreed to acquire Flender GmbH, a mechanical and electrical drive technology, from Siemens AG for about 2 billion euros.

As part of the sale, Carlyle has agreed to make long-term commitments for Flender and its employees.

The transaction is expected to close in the first half of 2021 and is subject to foreign-investment and antitrust approvals.

Headquartered in Bocholt, Germany, and active across 35 countries including Asia, Flender has about 8,600 employees and had sales of about 2.2 billion euros in fiscal year 2020.

Read the original article on RTTNews ( https://www.rttnews.com/3140940/carlyle-group-to-acquire-flender-from-siemens-for-about-eur-2-bln.aspx)

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