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Mannheimer Swartling

NORRLANDSGATAN 21, 111 87 STOCKHOLM, SWEDEN
Tel:
Work +46 8 595 060 00
Fax:
Fax +46 8 595 060 01
Email:
Web:
www.mannheimerswartling.se

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G & L Beijer acquires Carrier ARW

March 2010

G & L Beijer AB has been advised by Mannheimer Swartling in connection with the acquisition of Carrier Corporation’s refrigeration wholesale distribution operations in Europe and South Africa (“Carrier ARW”). The value of the transaction is approximately SEK 1,1 billion.

G & L Beijer is a technology-oriented group, operating in industrial trading, with a turnover of over SEK 3 billion. Beijer Ref, the business unit acquiring Carrier ARW, markets and sells comprehensive cooling systems and cooling components in 16 European countries and had a turnover of SEK 2,5 billion in 2007. The proposed acquisition implies that G & L Beijer's pro forma turnover will amount to ca. SEK 5,9 billion. The total number of employees will be approximately 1800.

The payment is to be made with shares and after the deal closes, G & L Beijer's present shareholders and Carrier Corporation will hold 66,7 per cent and 33,3 per cent of the votes, and 58,5 per cent and 41,5 per cent of the capital in G & L Beijer, respectively. The transaction requires the shareholders' approval at an extraordinary general meeting, which is to be held on 29 January 2009.

The responsible partners were Peter Linderoth and Claes Albinsson (M&A), who were assisted by Per Ă…sbrink, Anna Gustafsson (M&A) and Ola Larsson (Competition). Hans Petersson was the responsible partner for capital markets advice and was mainly assisted by Yvonne Ivarsson and Pontus Malmunger.

(2009-01-13)

www.mannheimerswartling.se

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