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Midea Acquires 80% Share of Clivet
2016/12/24
On October 31, 2016, a ceremony was held at Clivet’s headquarters in Feltre, Belluno, Italy, to announce the completion of Midea’s acquisition of 80% of Clivet S.p.A., Clivet Espana S.A., and related real estate assets. As of October 31, all the prerequisite conditions of the defensive agreement had been satisfied and the relevant regulatory approvals had been obtained.
 
“Today marks a major step forward towards an industrial partnership between Midea and Clivet,” said Paul Fang, chairman and president of Midea, “We look forward to leveraging our complementary resources and capabilities to fully realize the potential of the partnership. We believe that our continuous investment in the brand, technology, marketing, and people and unwavering commitment to product quality will enable us to serve our customers better and create more value for society.”
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