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

29th March 2024

BUS applications up 75% in February

UK: Applications for grants under the UK government’s Boiler Upgrade Scheme (BUS) in February were 75% higher than during the same month last year, new statistics reveal.
29th March 2024

EBM-Papst opens new Chinese HQ

CHINA: German fans and motors manufacturer EBM-Papst has established a new 33,000m² local headquarters in China, bringing together the company’s previous four locations in Shanghai.
28th March 2024

Hudson warns of unsafe US recovery cylinders

USA: The US refrigerant supplier and reclaimer Hudson Technologies has warned of illegal and unsafe recovery cylinders entering the US market.
28th March 2024

Topical talks at Bath breakfast meeting

UK: The next South West South Wales Refrigeration Society breakfast briefing will feature talks from three experienced and knowledgable speakers on varied refrigeration and air conditioning topics.
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.