Confirmation comes from investment group Somfy, which says it has received a firm offer from the US manufacturer to acquire its 46.1% stake in CIAT.
The bid is subject to several conditions including consultation with CIAT Group’s works council, approval by CIAT Group following this consultation and authorisation of the supervisory bodies governing this type of transaction.
Somfy has said that final agreement could be reached during the last quarter of 2014 if the conditions are met as scheduled.
Controlling interest in CIAT is still said to be held by the Falconnier family, the founders of the company. Somfy acquired their 46.1% stake in 2008.
French manufacturer CIAT for sale? – July 22, 2014
FRANCE: Unconfirmed reports suggest that French air conditioning manufacturer CIAT is for sale with Carrier, Bosch and Climaveneta all said to be interested. Read more…