The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 (4) of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of the share capital of KACO New Energy GmbH by Siemens Aktiengesellschaft.
Siemens Aktiengesellschaft is a company duly registered under the laws of Germany and it is the parent company of Siemens group. Its main activities are related to energy and gas, production of energy services, management of energy, manufacturing technology, motility, digital factory, processing industry and motility, financial services, health, Siemens and Gamesa Renewable Energy and Next 47.
KACO New Energy GmbH is a company duly registered under the laws of Germany and is active in the provision of solutions for the supply of solar energy and the effective management of energy, providing inverters to customers who are active in the sector of energy and solar energy industry.
KACO Photovoltaic String Inverter, subsidiary of KACO New Energy GmbH, manufactures and sells photovoltaic string inverters and offers derivative/ related services, e.g. repair and maintenance. It is noted that all of the other KACO New Energy GmbH activities which are not related to the KACO Photovoltaic String Inverter are not part of this merger.