Mitsubishi Electric Attains 100 Percent Ownership of DeLclima
Aims to swiftly realize synergies with DeLclima and strengthen its commercial HVAC business
TOKYO — Mitsubishi Electric Corp., following the acquisition of approximately 74.97 percent of the shares of DeLclima S.p.A. from De’Longhi Industrial S.A. on Dec. 23, 2015, launched a mandatory tender offer to acquire the remaining shares. Consequently, Mitsubishi Electric has completed its acquisition of all the remaining shares representing approximately 25.03 percent of the share capital and achieved 100 percent ownership of DeLclima.
The total purchase price in relation to the acquisition of approximately 74.97 percent of the share capital of DeLclima from De’Longhi Industrial was €508 million, with a per-share price of €4.5271. The total consideration in relation to the mandatory tender offer was approximately €170 million, with a per-share price of €4.5271. As a result, the overall purchase price for 100 percent of DeLclima’s shares amounted to approximately €677 million.
Mitsubishi Electric said it aims to swiftly realize synergies with DeLclima and strengthen its commercial HVAC business globally.
DeLclima designs, manufactures, and sells commercial HVAC equipment and cooling equipment for commercial, industrial, and IT use. Its subsidiaries include Climaveneta S.p.A. and RC Group S.p.A. Climaveneta has a leading market share in Europe and a strong brand in the chillers business. It offers energy-saving and low-noise technology; product customization; and system solution capabilities such as remote monitoring of HVAC equipment. RC Group offers expertise in specialized air conditioning, including for server rooms.
For more information about DeLclima, visit www.del-clima.com/en.
For more information about Mitsubishi Electric, visit www.mitsubishielectric.com/bu/air/products.
Publication date: 3/1/2016