Qingdao Haier Co. Ltd to acquire Candy S.p.A. for €475m

Qingdao Haier Co. Ltd, Chinese home appliances maker, to acquire Candy S.p.A., Italian home appliances maker. Qingdao Haier and Candy are highly complementary in brand and product portfolios, as well as supply chains. The combination is expected to further enhance both sides’ competitiveness in the European and global markets.The transaction is expected to be completed in early 2019.