Systemair to divest its Commercial Air-Conditioning Business to Panasonic
Press Release, 17 November 2022 Systemair AB (NASDAQ OMX Stockholm: SYSR), a leading global manufacturer in the ventilation and commercial air-conditioning business, has entered into an agreement with Panasonic Corporation's Heating & Ventilation A/C Company intending to divest the air-conditioning business of Systemair at an enterprise value of 100 million Euros on a cash- and debt free basis. An agreement has been reached to sell all outstanding shares in Systemair S.r.l, and Tecnair S.p.A in Italy, and in due course the business conducted by the air-conditioning sales employees in