The European Commission has given its approval to the acquisition of Teka by the multinational Midea, concluding that the operation does not raise significant competition concerns in the European market.

The deal, which was announced in June 2024, represents a strategic step for both companies, reinforcing Midea's position in the home appliance sector and allowing Teka to consolidate its global presence.

The European Commission's decision was taken under the European Union's Merger Regulation, following a detailed examination of the acquisition's impact on the market. The entity concluded that the merger between Midea and Teka will not harm competition, as the overlap in the companies' activities is limited and does not create a monopoly or a dominant position in the sector.

The merger review process began with formal notification to the European Commission on January 28. The agreement involves the transfer of full control of Teka to Midea Electric Netherlands BV, a subsidiary of the Chinese group Midea Group Co., Ltd. The acquisition will be carried out through the purchase of all Teka shares.

Relevance of the acquisition

Midea is one of the world's largest manufacturers of household appliances and technological systems, operating in the air conditioning, robotics, and industrial automation segments. Teka, founded in 1924, specializes in the manufacture of kitchen and bathroom equipment, and is a benchmark brand in Europe and other regions of the world.

The operation will allow Teka to strengthen its position in the global market, leveraging Midea's resources and technological capabilities. In addition to the Teka brand, the acquisition also includes the Küppersbusch brand, specializing in premium German-made home appliances, and Intra, a Scandinavian brand focused on home design solutions.

The acquisition follows a "transparent sales process" conducted by Heritage B, the holding company of businessman Maximiliam Brönner, who previously controlled Teka.