Brookfield, Carlyle vie for Siemens’ Flender: Bloomberg

Brookfield Asset Management and Carlyle Group have emerged as final bidders for Flender, Siemens AG’s mechanical drive unit, reported Bloomberg.

Brookfield Asset Management and Carlyle Group have emerged as final bidders for Flender, Siemens AG’s mechanical drive unit, reported Bloomberg. The business news outlet noted that the deal could raise as much as US$2.4 billion for the German industrial conglomerate. Flender makes gears and transmissions used in everything from cement production and shipbuilding to beermaking and offshore oil extraction. In 2005, Siemens bought Flender from Citigroup.

Source: Bloomberg