Baker McKenzie Switzerland, in cooperation with other Baker McKenzie offices, advised Swiss building supplier Arbonia on the successful completion of the sale of its climate division to Midea Electrics Netherlands B.V., a company of Midea Group ("Midea"), which was agreed by the parties in April 2024.
This transaction has been completed after the European Commission granted its unconditional approval at the end of January 2025. The sale generated proceeds of EUR 742 million and resulted in a book profit in the low triple-digit million range for Arbonia.
Arbonia's now sold climate division develops and manufactures products and systems for sustainable heat and cold generation, heat storage, cold distribution, ventilation, and air filtration. In 2023, it recorded net revenues of CHF 576.6 million, employed over 3,000 employees and managed, besides international sales offices, eight specialized production sites and five development competence centers throughout Europe. Midea plans to continue to invest in the division's existing sites, employees and R&D expertise.
Baker McKenzie advised Arbonia on all legal and tax aspects of the transaction.
The Baker McKenzie global team was led by Zurich-based Partners Alexander Fischer and Alexander Blaeser and consisted in particular of the following lawyers:
Baker McKenzie Switzerland:
- Zurich office: Matthias Courvoisier (partner, capital markets), Martin Furrer (partner, M&A), Philippe Reich (partner, international commercial and trade), Julia Schieber (partner, IP), Roger Thomi (partner, antitrust and competition), Boris Wenger (partner, antitrust and competition), Kevin Ardueser (associate, M&A), Nadine Charrière (associate, IP), Johanna Moesch (associate, IP), Kaspar Projer (associate, dispute resolution and sanctions compliance), David Rohner (associate, Dispute Resolution), Philipp A. Ruchti-Baltensperger (associate, M&A, Real Estate), Raphael Schneuwly (associate, M&A), Kiara Sharifi (associate, M&A), Vinzenz Sutter (associate, M&A) as well as Valentine Dändliker, Laksanaporn Chaiyakham and Paula Ulmi (trainee lawyers)
- Geneva office: Olha Demianiuk (partner, M&A)
Baker McKenzie Germany:
- Berlin office: Claire Dietz-Polte (partner, energy & infrastructure), Matthias Koehler (partner, employment), Andreas Schulz (counsel, public law), Paul Friese (associate, employment), Kerstin Swoboda (associate, employment) and Harasch Yakubi (associate, employment)
- Duesseldorf office: Daniel Bork (partner, corporate and commercial) and Moritz Jander (associate, corporate and commercial)
- Frankfurt office: Ariane Schaaf (counsel, tax), Justus Eisenbeiss (associate, tax) and Philipp Thimm (associate, banking & finance)
- Munich office: Thomas Gierath (partner, tax), Jon Marcus Meese (partner, corporate and commercial), Florian Tannen (partner, IT), Joachim Froehlich (counsel, commercial), Eva Kriechbaumer (associate, M&A), Hannah Mack (associate, international commercial & trade), Erik Kuhn (associate, M&A) and Daniel Wulle (associate, IT)
Baker McKenzie Amsterdam:
- Edo Berghuis (associate, real estate), Anastasia Boonen-Vaes (associate, corporate reorganizations), Kathinka Driessen (associate, real estate) and Job Verdonk (associate, Tax)
FenXun Partners:
- Beijing office: Leo Zhang (partner, M&A)
- Shanghai office: Weici Yin (associate, M&A) and Xi Chen (associate, M&A)
Baker McKenzie Brussels:
- Améline Coppens (associate, M&A), Anne-Sophie Corne (associate, real estate), Tim Meynen (associate, employment & compensation), Hannah Matthys (associate, international commercial & trade), Elvis Musema (associate, banking & finance) and Marthe Teerlynck (associate, international commercial & trade) and Victor Deprez (associate, Corporate)
Baker McKenzie Madrid:
- Paul Amberg (partner, trade and commerce) and Patricia Simmonneau (associate, corporate)
Baker McKenzie Milan:
- Rita Marchetti (partner, real estate), Noemi Cauzzo (associate, employment & compensation), Agnese Gozzi (associate, M&A), Francesca Montefusco (associate, real estate), Margherita Pasi (associate, M&A) and Alessandro Gianferrara, Valentina Masucci, Antonio Spampinato Antonio (trainee lawyers)
Baker McKenzie Paris:
- Marguerite Le Nail (associate, M&A)
Baker McKenzie Prague:
- Jan Dudik (associate, M&A)
Baker McKenzie Stockholm:
- Annika López Kasteskog (associate, international commercial & trade)
Baker McKenzie Warsaw:
- Anna Krekora (associate, M&A), Michal Pakosz (associate, M&A), Piotr Pawlowski (associate, M&A) and Konrad Rutkowski (paralegal)