NIBE receives clearance from the Netherlands for the acquisition of Climate for Life (CFL)

NIBE has now received the necessary clearance from the Dutch competition authority to acquire 100% of the shares in the Dutch Group Climate for Life (CFL) and has also successfully completed the employee consultation. 

Following the clearance from the Dutch competition authority and the successfully completed employee consultation, the CFL acquisition can proceed to completion. Completion of the acquisition is expected to take place on 25 July 2023. 

Background
On 12 June 2023, NIBE announced that it had signed an agreement to acquire 100% of the shares of CFL from its current shareholders including majority shareholder Parcom and its co-investor Smile Invest, subject to customary approval from the competition authorities concerned and applicable employee consultation. 

CFL will be part of the NIBE Climate Solutions business area and consolidation with NIBE is expected to take place as of 1 August 2023, which is one month ahead of the time schedule.

For more information: Gerteric Lindquist, CEO and Hans Backman, CFO, +46 (0) 433 27 30 00
This information was submitted by the contact persons above for publication on July 12, 2023 at 15:00 CET

Attachment

• PM-230612-eng