Arbonia divests the Climate Division for EUR 760 million to Midea

Arbon, Switzerland, 18 April 2024 – After the conclusion of a competitive sales process with several bidders, Arbonia has decided to divest the Climate Division to Midea Electrics Netherlands B.V., a company of Midea Group for an enterprise value of EUR 760 million. Subject to the approval of relevant regulators, up to CHF 400 million of the sales proceeds are to be returned to the shareholders after completion of the transaction. In addition, net sale proceeds will be used to strengthen the doors business and to reduce net debt. The doors business will strategically be further developed both organically and through acquisitions, with the objective of making Arbonia a European market leader for doors made of wood and glass.