The shareholders of Üntes A.Ş., Üntes Rhoss A.Ş. and Üntes VRF A.Ş., resident in Turkey, have concluded a share purchase agreement with Swedish based NIBE Industrier AB and RHOSS S.p.A¸ Italian based subsidiary of NIBE, regarding sale of up to 50% shares of the aforementioned companies. The new era is expected to commence as of the beginning of 2020 up on consummation of the legal procedures.

The Swedish-based NIBE Group, with a 70-year history of more than 15,000 employees worldwide and an endorsement of approximately 2.3 billion Euros, is the owner of more than 100 leading companies, mainly in the fields of HVAC, industrial elements and stoves. NIBE Group companies include RHOSS, Bentone and Climatemaster that are also well known in Turkey. NIBE Industrier AB and ÜNTES, which have important strategic targets in the air conditioning sector, aim to take important steps in the world market in the field of central air conditioning systems with the strategic partnerships.

Üntes A.Ş. and its subsidiaries have been operating in air conditioning area since 1968 and have the main principle of contribution to our country by means of exporting more than 50 countries. Our company, as a strategic target, is willing to provide more contribution to our country with such partnership in the field of export.

“ÜNTES has brought NIBE to new markets with its smart, sustainable, high performance air-conditioning solutions for commercial areas and has taken it one step closer to its target of market leadership. In this context, Üntes team will continue its activities under the leadership of Mehmet Şanal.” said Mr.Gerteric Lindquist, CEO of the NIBE Group.

“We see the agreement made as a result of our strategic goals that overlap with NIBE Group as an industrially correct and long-term solution for both parties. Now, together with NIBE and RHOSS, we have a worldwide organization with a wide range of product. In the coming period, we will continue to contribute to our country by increasing our export figures and reaching more effective position in the global market.” said Mehmet Şanal, CEO of Üntes.

NIBE Group, having more than 100 companies on global basis, as a definite principal, does not interfere with the existing management of such acquired companies. Therefore, ÜNTES A.Ş. shall continue its activities for many years with the same enthusiasm and tenacity under the management of Mr. Mehmet Şanal.

Respectfully announced to the public.

Mehmet Hakkı Şanal on behalf of Üntes A.Ş. and its affiliates
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