Midea to acquire Teka Group.

Midea, a listed technology group, agreed to acquire Teka Group, a provider of household appliances and sinks. Financial terms were not disclosed. The transaction will enable Teka to enhance its competitive position, whilst safeguarding the legacy of a brand with over 100 years of history. The deal is subject to the required approvals by relevant regulators. The closing of the transaction is expected in the coming months.