Midea to acquire Arbonia’s Climate Division for EUR 760 million

Midea Electrics Netherlands B.V., a subsidiary of the globally operating Midea Group, a Chinese electrical appliance manufacturer, will acquire the Climate Division of SIX-listed Arbonia AG for an enterprise value of EUR 760 million. The completion of the transaction is subject to customary closing conditions.

The combination of the Climate Division and Italy-based Clivet Group, another Midea subsidiary and leading European company in the planning, manufacturing and sale of systems for climate, heating, air renewal and purification, will create a European leader in climate solutions.

Lenz & Staehelin is advising Midea in this transaction. The team is led by Tino Gaberthüel (M&A), and includes Arnold Romero, Raphael Fries, Ananda Lee (all M&A), Matthias Oertle, Anja Affolter Marino, Helin Dalla Palma (all Employment & Pensions), Astrid Waser (Antitrust), Alexander Greter, Isabel Guth-Wanner (both Regulatory), David Hitz (IP) and Leo Rusterholz (IT, Transitional Services).