# NIBE acquires 50% stake in Turkish HVAC group ÜNTES

NIBE Industrier AB acquired 50% of the shares in ÜNTES, a Turkish manufacturer of ventilation and air conditioning equipment, with an agreement to acquire the remaining 50% by 2024. The transaction requires approval from the Turkish Competition Authority.

- Type: Acquisition
- Announced: 2019-11-12
- Where: Ankara, Turkey, Türkiye
- Status: announced
- Products: ventilation and air conditioning equipment
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [NIBE Industrier](https://endata.com/companies/929.md) (acquirer)
- [Üntes](https://endata.com/companies/8528.md) (target)

## Sources

- [nibegroup.com](https://www.nibegroup.com/investors/pm-news-acquisitions-other/2019---news-acquisitions-other/2019-11-12-nibe-acquires-50-of-the-shares-in-turkish-ventilation-and-air-conditioning-group-untes), 2019-11-12: "NIBE Industrier AB has acquired 50% of the shares in the ÜNTES group of companies, which is based in Ankara, Turkey."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.