Midea Group completed the acquisition of the Climate Division of Arbonia for €760m.

Midea Group, an electrical appliance manufacturer, completed the acquisition of the Climate Division of Arbonia, a focused building components supplier, for €760m ($797m). "With the completion of the transaction, Arbonia’s strategy is focusing on the doors business invested in over the last few years. Thanks to its strong balance sheet with a high equity ratio and reduced debt, the strategic flexibility for the further development of Arbonia is ensured. It is working towards the goal of expanding its position as the European market leader for doors," Arbonia