Mitsubishi achieves DeLclima majority

Climaveneta-iFXJAPAN: Mitsubishi Electric has completed its initial acquisition of 74.97% of the share capital of Italian manufacturer DeLclima SpA for €508m.

Mitsubishi will now launch an offer for the remaining share capital of DeLclima and its air conditioning chiller companies Climaveneta and RC Group.

The initial acquisition is confirmed in an announcement today by the Japanese manufacturer in which it says: “Following the closing of this transaction, in compliance with Italian financial law and CONSOB regulations, a mandatory tender offer will be launched in Italy by Mitsubishi Electric in order to acquire the remaining shares representing approximately 25.03% of the share capital of DeLclima, resulting in a delisting and 100% ownership of the share capital of DeLclima.”

The total consideration in relation to the mandatory tender offer is expected to be approximately €170m.

DeLclima based in Treviso, Italy, was formerly known as De’ Longhi Clima SpA, changing its name to DeLclima SpA in January 2012 when it demerged from De’ Longhi’s household products business.

Related stories:

Mitsubishi Electric to buy DeLclima – August 25, 2015
JAPAN: Mitsubishi Electric is to purchase Italian manufacturer DeLclima and its chiller companies Climaveneta and RC Group. Read more…

Climaventa adds 1234ze chiller – December 2, 2015
ITALY: Climaveneta is the latest manufacturer to combine the low GWP refrigerant 1234ze with oil-free compressor technology in a range of chillers. Read more…


Latest news from the world of air conditioning and refrigeration

UK News

1st December, 2016

steve-gowing-home

Stonegrove appoints Gowing

UK: Industrial refrigeration contractor Stonegrove Refrigeration has appointed Steve Gowing as design and project engineer.

1st December, 2016

javac-award-climate-center

Javac achieves Climate Center double

UK: Javac UK, the refrigerant recovery and vacuum pump supplier, has been named as Climate Centers’ Supplier of the Year for the second year running.

28th November, 2016

kevin-munson-home

Ruskin renamed Swegon Air Management

UK: Ruskin Air Management has been renamed Swegon Air Management following its acquisition by the Swedish manufacturer Swegon.

25th November, 2016

swep-tentlingen

SWEP to close Swiss plant

SWEDEN: Heat exchanger manufacturer SWEP is to close its manufacturing plant in Tentlingen, Switzerland, moving production to factories in Slovakia and Sweden.

World News

6th December, 2016

63555869_s

R12 seized in the South Pacific

SOLOMON ISLANDS: Customs authorities in the Solomon Islands have reported their second seizure of the illegal CFC refrigerant R12 this year. 

5th December, 2016

43761248_s

Bitzer opens subsidiary in Iran

IRAN: German compressor manufacturer Bitzer has established a subsidiary company in Iran.

4th December, 2016

137284

Honeywell faces action over leak

USA: Seven local residents are reported to be suing Honeywell after a chemical leak at its Geismar, Louisiana, plant in August.

3rd December, 2016

daikin-czech-rep

Daikin Plzen plant is BES 6001 certified

BELGIUM: Daikin Europe’s factory in the Czech Republic has joined the group’s factory in Ostend by becoming certified to the BRE’s responsible sourcing standard.

JOIN OUR NEWSLETTER
Leave A Comment