Merger Notification - Announcement according to § 10 Cartel Act
Timken; Nadella
BWB/Z-6200
On 13.02.2023 the Austrian Federal Competition Authority was notified of the following merger:
Planned purchase process
The Timken Company, USA, intends to indirectly acquire all shares in Leonardo Top S.à r.l., 12E, rue Guillaume Kroll, L-1882, Grand Duchy of Luxembourg, and thereby indirectly acquiring control of the wholly-owned subsidiaries in China, Germany, Italy, Spain, and USA as well as the shares held in the nonwholly owned subsidiaries Orchestra SRL, Damo SRL (both Italy), Shuton S.A. and Husillos Ipiranga, S.L. (both Spain) from LDV Investment S.à r.l., Grand Duchy of Luxembourg, and three individuals.
The target group is active in the production and sale linear motion systems, rotational products and ball screw products. The business sector concerned is: metal processing; ÖNACE code: C 28.15 (Manufacture of bearings, gears, gearing and driving elements)
Industry sector: C - Verarbeitendes Gewerbe/Herstellung von Waren
Deadline for bringing in an application pursuant to § 11(1) Cartel Act will end on 13.03.2023.
Entrepreneurs whose legal or economic interests are affected by the merger can bring in a written statement at the Federal Competition Authority or the Federal Cartel Prosecutor within 14 days from publication date.
Note: The intervening party has no right to a certain treatment of the statement and will not gain a party position.
Non-prohibition of the merger
The Federal Competition Authority and the Federal Cartel Prosecutor have not applied for examination of the merger by the Cartel Court. The standstill obligation (§ 17 (1) Cartel Act) ends with effect from 14.03.2023 .