PLMJ advises Arbonia on sale of air conditioning business

PLMJ's Corporate M&A team advised Arbonia on the sale of its Air Conditioning Division to Midea Electrics Netherlands B.V., a member of the Midea Group, for €760 million. The PLMJ team advised Arbonia on all aspects of the transaction in Portugal.

The transaction is subject to regulatory approval. The proceeds of the sale will be used to strengthen the financing of the organic growth and future acquisitions of Arbonia's Doors business, with the aim of becoming the European market leader, and to reduce debt.

The PLMJ team was led by Diogo Perestrelo, partner and co-head of the Corporate M&A practice. The team also included senior counsel Elsa Pizarro Pardal, associate Carolina Inverno Branco from the same practice and Pedro Rosa, managing associate from the Employment and Labour practice.