Japanese firm completes acquisition of Embraco

Japan-based Nidec Corporation's transaction previously subjected to European Commission's conditions.

Embraco Slovakia in Spišská Nová Ves. Embraco Slovakia in Spišská Nová Ves. (Source: TASR)

After months of in-depth investigation by the European Commission (EC) and commitments to be met, the Japanese firm Nidec Corporation completed the acquisition of Embraco, a Brazilian producer of refrigeration compressors, from the American company Whirlpool, as reported by the SITA newswire.

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Read also Embraco Slovakia changes hands Read more 

One of Embraco's subsidiaries acquired by the Nidec Corporation is situated in Spišská Nová Ves, eastern Slovakia. Embraco Slovakia will change its name to Nidec Global Appliance Slovakia.

The acquisition was under investigation by the EC from November 2018 until mid-April of this year, when the Commission conditionally approved the transaction. The EC then granted the final approval on June 26.

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