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Published on 14/05/2025 05:05 PM
Samsung Electronics Co. has agreed to buy FläktGroup Holding GmbH for €1.5 billion ($1.7 billion), acquiring the European heating and cooling specialist in its biggest overseas takeover in eight years.
The Korean company inked a pact to acquire all shares of the century-old German company from Triton Investments Advisers LLP. That deal should get done in 2025, it said in a statement. Samsung’s shares rose as much as 1.6% on Wednesday morning in Seoul.
FläktGroup would help bolster Samsung’s position against rivals such as LG Electronics Inc. in the heating, ventilation and air-conditioning market, which is expanding rapidly alongside the need to cool data centers during the AI development boom.
Stock futures were little changed Wednesday as Wall Street looked to extend a strong start to the week.
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