Pestalozzi advises NIBE Group in connection with a divestment of 26% of Schulthess Maschinen AG
NIBE Group is a global organisation that contributes to a lower carbon footprint and better utilisation of energy. In its three business areas – Climate Solutions, Element and Stoves – NIBE developes, manufacturse and markets a wide range of environmentally-friendly, energy-efficient solutions for indoor climate comfort in all types of properties, plus components and solutions for intelligent heating and control in industry and infrastructure.
NIBE Group is divesting 26% of Schulthess Maschinen AG (‘Schulthess’) by selling the corresponding share of the owner company HC Holding Eta AG. Through this transaction NIBE will become a minority shareholder in the company with its remaining 25% shareholding.
The divestment of this 26% of Schulthess will generate an estimated capital gain in the magnitude of SEK 170 million in the second quarter for the NIBE Group.
Schulthess has been a subsidiary of the NIBE Group since the acquisition of the listed Swiss Schulthess Group AG in April 2011, within which Alpha Innotec GmbH, the leading heat pump company in the German market, constituted the largest part and thus the reason for the acquisition.
Pestalozzi advised NIBE Group on all Swiss law aspects of the transaction.