Daikin Acquires Duplomatic MS S.P.A, an Italian comprehensive hydraulic equipment manufacturer

Daikin Industries, Ltd. has recently concluded a share purchase agreement with Duplomatic MS S.p.A (hereinafter referred to as “Duplomatic”), an Italian hydraulic equipment manufacturer. The acquisition price is 220 million euros (27.5 billion yen at an exchange rate of 1 euro = 125 yen). Acquisition is scheduled for completion in June 2022 when Daikin is expected to obtain all shares from Alcedo Sgr S.p.A., an Italian private equity firm, and the management of Duplomatic, after concluding all necessary procedures for acquisition.