Nibe ends interest in Fujitsu General
SWEDEN: Swedish heat pump manufacturer Nibe has ended its interest in the Fujitsu General air conditioning business.
Nibe Industrier AB recently admitted it was in the process of evaluating a potential acquisition of all or a majority of Fujitsu General. It has now announced that it will not go forward with that process.
Fujitsu announced in January that it was seeking a quick sale of its 42% stake in the business in a deal rumoured to be worth JPY140bn ($1.1bn). The other Fujitsu General shareholders include the Bank of Japan, JP Morgan and Goldman Sachs.
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