European Commission clears Carrier/Haier deal
23rd May 2024
EUROPE: The European Commission has given the all-clear to Carrier Refrigeration’s acquisition by Haier.
The European Commission says the acquisition of sole control of Carrier Refrigeration Benelux BV by Haier Europe Appliances Holding BV was examined under its simplified merger review procedure.
The Commission concluded that the transaction would not raise competition concerns, given the companies’ ‘limited combined market position’ resulting from the proposed transaction.
The acquisition agreement was first announced in December in a deal valued at $775m. Carrier had announced plans to exit its commercial refrigeration business, along with its fire and security interests, when it acquired German manufacturer Viessmann in April 2023.
