Daikin Enters European Oil Hydraulic Business to Contribute Environment

Daikin has concluded a share purchase agreement with Duplomatic, an Italian hydraulic equipment manufacturer. The acquisition price is €220 million (about US$ 234.6 million). The acquisition is scheduled for completion in June 2022 when Daikin is expected to obtain all shares from Alcedo, an Italian private equity firm, and the management of Duplomatic, after concluding all necessary procedures for acquisition.