Siemens Energy AG

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Summary of the Proposed Transaction [In terms of Regulations 13(2) of the Competition Commission of India (Combination) Regulations, 2024] A. Name of the parties to the combination 1. The names of the parties to the combination are: a. Siemens Energy AG (SE AG) b. Siemens Energy India Limited (SEIL) (SE AG and SEIL are jointly referred to as Parties). B. The nature and purpose of the combination 2. By way of the proposed transaction, SE AG proposes to acquire equity shares of SEIL from Siemens Aktiengesellschaft (Proposed Transaction). 3. The Proposed Transaction is in the nature of an acquisition of shares and is notifiable under Section 5(a)(ii)(A) of the Competition Act, 2002 (as amended) (Act). C. The products, services and business(es) of the parties to the combination SE AG 4. SE AG is a public listed company in Germany, which was established in 2020 to house the “Gas and Power” business of SAG. With its registered office in Munich and headquarters in Berlin, it currently serves as the ultimate parent company of the Siemens Energy group of companies (Siemens Energy Group). 5. SE AG operates across the energy value chain, offering energy technologies and infrastructure, comprising solutions, products, and services spanning conventional and renewable energy. SE AG, through Siemens Energy Group, develops, produces, sells, installs, and services wind turbines, gas turbines, steam turbines as well as grid technology. SEIL 6. SEIL is a public limited company incorporated under Indian law on 7 February 2024. The business activities of SEIL are limited to: (i) acting as an exclusive agent and distributor in India (and certain additional countries) of SE AG products and related services; (ii) manufacturing and supply of SE AG products and providing related services based on technology licenses provided by SE AG and its affiliates; and (iii) providing certain engineering services (on a captive basis) to SE AG and its affiliates outside India. D. The respective markets in which the parties to the combination operate 7. There are no (a) horizontal overlaps; and / or (b) vertical / complementary links between the activities of the Parties and their respective groups / affiliates, in India. Accordingly, absent any horizontally overlapping, and/or vertical / complementary business activities of the Parties in India, the relevant market does not need to be defined and may be left open as the Proposed Transaction will not lead to any adverse effect on competition in India. 8. Therefore, the Proposed Transaction is being filed under the green channel route in terms of Section 6(4) of the Act read with Rule 3 of the Competition (Criteria of Combination) Rules, 2024 and Regulation 5(5) of the Competition Commission of India (Combinations) Regulations, 2024 for the Hon’ble Commission’s deemed approval under Section 6(5) read with Section 31(1) of the Act. *************