Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

EU Approves ABN Amro Purchase of Sole SpA
Sep 12, 2003
 Printable format
 Email this Article
 Search

The European Union Commission (EU) approved on Friday the purchase by Dutch financial services giant ABN Amro Holding NV of compressor manufacturer Sole SpA.

Financial details were not disclosed.

ABN Amro is acquiring Italian financial holding Applied Components Companies SpA, which controls Sole, an Italian manufacturer of electric motors and compressors for domestic and commercial appliances such as refrigerators, dishwashers, and dryers.

In July, Sole acquired Electrolux AB's subsidiary Electrolux Compressors. The purchase included Zanussi Elettromeccanica.

Sole was previously controlled by venture capital fund Dresdner Kleinwort Capital, which is part of Allianz AG Holding's Dresdner Bank.

Sole employs 4,100 people among its three plants in Italy, Spain, and Austria, and in two joint ventures in China. Its 2002 sales amounted to SEK 2.8 billion (approx. U.S. $346.6 million).

The deal was approved under the Commission's simplified antitrust procedure. This clears mergers or acquisitions after 1 month if no objections are raised by third parties. (Dow Jones)

Back to Daily News

 

Daily News

...........................................................

Nov 26, 2014: Hamilton Beach 3Q income down slightly

Nov 26, 2014: LG's sales of Inverter Linear Compressor refrigerators top 10 million

Nov 25, 2014: Robotics Exhibits Grow 25% at 2015 CES

Nov 25, 2014: Index shows HVAC/R contractors more positive than last year

Nov 25, 2014: Consumer Confidence Index Declines

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows