Update on the upcoming closing of the sale of the Climate Division

Arbon, 20 December 2024 – The sale of the Climate Division to Midea Electrics Netherlands B.V., a company of the Midea Group, has been approved unconditionally by all relevant national antitrust and investment control (FDI) authorities in recent months. In order for the purchase agreement to be completed (closing), the merger must still be approved by the EU Commission. This approval is expected by the end of January 2025.

With the official merger filing, the EU Commission's antitrust review of the divestment of the Arbonia Climate Division has entered its final phase. Approval by the EU Commission is expected in the coming weeks, probably at the end of January 2025, when the applicable procedural deadline expires. This is subject to further measures and/or queries by regulatory authorities and the EU Commission.

The Board of Directors also reaffirms its already publicly stated commitment to distribute a part of the proceeds of the sale to shareholders.

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