Daikin to acquire Italian commercial refrigeration maker Zanotti for EUR98M

Daikin Industries, via Daikin Europe N.V., announced it will acquire all shares of Italian commercial refrigeration manufacturer Zanotti S.p.A. for 98 million euros to expand its European commercial refrigerator/freezer business, with closing expected by end of June 2016.

“OSAKA, Japan — Daikin Industries Ltd., through its subsidiary Daikin Europe N.V., announced it will acquire Zanotti S.p.A., an Italian manufacturer of commercial refrigerators and freezers. The acquisition price is 98 million euros (12.3 billion yen) for which Daikin will obtain all company shares from the asset management company owned by Zanotti executive officers.”

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