Midea Group Co., Ltd. (SZSE:000333) reached an agreement to acquire Teka Group from HERITAGE B on June 7, 2024. The deal is subject to the required approvals by relevant regulators. The closing of the transaction is expected in the coming months.

Teka Group closed 2023 with c.?600 million of gross sales and an adjusted EBITDA margin of 7%,HSBC Bank plc Sucursal en Espana acted as financial advisor for HERITAGE B. Ashurst Spain acted as legal advisor for HERITAGE B.