World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

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

28th March 2024

CO2 compressor for multiple applications

ITALY: Frascold’s new TK HD series transcritical CO2 compressors are designed for a wide range of refrigeration and air conditioning applications, as well as high-temperature heat pumps up to 100°C.
28th March 2024

Copeland releases 50hp scroll in Asia

CHINA: US compressor manufacturer Copeland is to launch a 50hp scroll for heat pump OEMs in Asia.
27th March 2024

Daikin redesigns Perfera R32 air conditioner

BELGIUM: Daikin Europe has announced a next generation All Seasons Perfera R32 air conditioner with redesigned indoor and outdoor units, making them easy to install and use.
27th March 2024

Press fittings go large

UK: Conex Bänninger has expanded its >B< MaxiPro range of press fittings with the addition of a 1⅝in fitting.
27th March 2024

Distilling the zero carbon benefits of heat pumps

IRELAND: An Irish distiller is now producing carbon neutral whiskeys following the installation of high temperature heat pumps from Finnish manufacturer Oilon.
27th March 2024

Daikin acquires Danish distributor

DENMARK: Daikin has acquired its Danish HVAC distributor BKF-Klima A/S from Swedish refrigeration and air conditioning wholesaler Beijer Ref.