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.