Press Release

White & Case Advises De' Longhi Industrial on Sale of Majority Interest in DeLclima to Mitsubishi Electric

Global law firm White & Case LLP has advised De' Longhi Industrial S.A. on the sale of 74.97 percent of the share capital in Italian air conditioning products company DeLclima S.p.A. to Mitsubishi Electric Corporation. The transaction closed on December 23, 2015.

Mitsubishi Electric will launch a mandatory tender offer for the remaining shares, representing 25.03 percent of share capital in DeLclima, in compliance with Italian financial laws and regulations.

The purchase price for 100 percent of DeLclima's shares is approximately €508 million.

The White & Case team which advised on the transaction included partners Michael Immordino (London & Milan) and Ferigo Foscari (Milan) and local partner Leonardo Graffi (Milan), and Milan-based associates Alessandro Seganfreddo and Alessandro Picchi.

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