Ad-hoc | 20 December 2024 07:00
Update on the upcoming closing of the sale of the Climate Division
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Arbonia AG / Key word(s): Mergers & Acquisitions/Statement
Arbon, 20 December 2024 – The sale of the Climate Division to Midea Electrics Netherlands B.V., a company of the Midea Group, has been approved unconditionally by all relevant national antitrust and investment control (FDI) authorities in recent months. In order for the purchase agreement to be completed (closing), the merger must still be approved by the EU Commission. This approval is expected by the end of January 2025. With the official merger filing, the EU Commission’s antitrust review of the divestment of the Arbonia Climate Division has entered its final phase. Approval by the EU Commission is expected in the coming weeks, probably at the end of January 2025, when the applicable procedural deadline expires. This is subject to further measures and/or queries by regulatory authorities and the EU Commission.
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End of Inside Information
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