Antitrust approval of the EU Commission obtained for the sale of the Climate Division

Arbon, 29 January 2025 – Yesterday, on 28 January 2025, the EU Commission approved the sale of the Climate Division to Midea Electrics Netherlands B.V., a company of the Midea Group, without conditions or requirements. As a result, all required approvals of the responsible national antitrust and investment control authorities (FDI) as well as the European Union have been granted without conditions or requirements. The closing of the sale, announced on 18 April 2024, will take place at the end of February 2025.

The EU Commission has completed its antitrust review of the divestment of the Climate Division and approved the transaction without conditions or requirements. This means that all required approvals of the antitrust and investment control authorities have been obtained. The parties plan to complete the transaction at the end of February 2025, after the conclusion of the Chinese New Year festivities.

The Board of Directors also reaffirms its already publicly stated commitment to participation of the shareholders in the sales proceeds. Further information on shareholder participation and timing of the distribution will follow in the press release on the closing.

Contact
Fabienne Zürcher
Head Corporate Communications & Investor Relations
T +41 71 447 45 54
fabienne.zuercher@arbonia.com