Paksoy has advised Mitsubishi Heavy Industries Thermal Systems on its acquisition of a stake in Form VRF Sistemleri San. ve Tic. A.S., its long-time distributor of air conditioning systems in Turkey. ADMD/Mavioglu & Alkan advised Form VRF Sistemleri on the sale.
A share purchase and joint venture agreement was signed on January 30, 2019 through a European subsidiary of Mitsubishi Heavy Industries Thermal Systems, Mitsubishi Heavy Industries Air Conditioning Europe (MHIAE) for the acquisition of a stake in Form VRF Sistemleri.
The transaction is expected to close by the end of March 2019 after regulatory approvals are obtained.
Mitsubishi Heavy Industries Thermal Systems is a group company of Mitsubishi Heavy Industries, Ltd., which is an industrial firm, active in the engineering, electrical equipment, and electronics sectors.
Paksoy’s team included Partner Stephanie Beghe Sonmez and Senior Associate Deniz Ozkan.
The ADMD team consisted of Partner Orhan Yavuz Mavioglu and Attorneys Kardelen Lule, Dilara Tamturk, and Duygu Alkan.