Majority stake Announced May 2021 Closed Jun 2021
Carel signs binding agreement to acquire 51% of Turkish partner CFM for €23.1M
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Summary
Carel signed a binding agreement to acquire a 51% majority stake in CFM Soğutma ve Otomasyon, a Turkish HVAC&R distributor and services provider, for €23.1 million, with an option to acquire the remaining 49% between 2024 and 2027. Part of Carel's geographic expansion strategy.