EU Commission Approves Arbonia's Sale of Climate Division

Arbonia AG has received approval from the EU Commission for the sale of its Climate Division. The buyer, Midea Electrics Netherlands B.V., a Midea Group company, will acquire the division without any imposed conditions. This approval comes after the necessary antitrust and investment control checks by the national authorities and the European Union.

Originally announced on 18 April 2024, the transaction is scheduled to conclude at the end of February 2025, following the Chinese New Year celebrations. This marks a significant step forward as the EU Commission has completed its antitrust review, allowing the sale to proceed.

Arbonia's Board of Directors has reaffirmed its intent to involve shareholders in the sales proceeds. More details regarding shareholder participation and distribution timing will be shared at the sale's closure.