Hengeler Mueller advises Siemens on sale of Flender to Carlyle

30. October 2020

The Managing Board and Supervisory Board of Siemens AG have approved the sale of Flender GmbH, a world-leading supplier of mechanical and electrical drive systems, to Carlyle. The contracting parties signed a corresponding agreement. The price is EUR 2.025bn (enterprise value). The transaction is expected to close in the first half of 2021 and is subject to foreign-investment and antitrust approvals.

Hengeler Mueller advised Siemens on both the sale and the originally planned spin-off and public listing of Flender (Dual Track).

The M&A team was led by partners Hans-Jörg Ziegenhain and Daniel Möritz (M&A/Corporate) and included partner Matthias Scheifele, counsel Gunther Wagner (both Tax) as well as associates Jakub Lorys, Thomas Daniel Weierer and Christian Linke (all M&A/Corporate) (all Munich).

The spin-off and IPO team included partners Simon Patrick Link, Jochen Vetter (both Corporate, Munich) and Alexander Rang (Capital Markets, Frankfurt) as well as associate Daniel Illhardt (Corporate, Munich) and Pascal Brandt (Capital Markets, Frankfurt).