Electronics company Reunert's bid to buy out Siemens' 60% stake in Siemens Enterprise Communications is set to be heard by the Competition Tribunal today.
The Competition Commission has recommended the tribunal approve the merger, without any conditions, which would give Reunert sole ownership of Siemens Enterprise Communications. The electronics company already owns 40% of the Siemens unit.
Reunert's bid to buy out Siemens' stake has been referred to the tribunal because it has been classified as a “large merger”, although its value has not been disclosed.
When the deal was announced at the end of last month, Reunert CEO Gerrit Pretorius said the “acquisition of the remaining shares of Siemens Enterprise Communications provides a good opportunity for us to expand in a market that is familiar to the Reunert group”.
The Siemens division would add to the company's Nashua businesses due to its expertise in enterprise systems, he explained.
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