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Fangda's China and Singapore offices advise Midea Group on cross-border acquisition and European joint venture
Fangda Partners recently represented Midea Group in two strategically significant cross-border transactions, underscoring the firm’s strong international coordination capabilities in supporting Chinese enterprises in their global expansion. Leveraging our strategic location and international perspective, Fangda Singapore office plays a key role in Fangda’s cross-border practice, extending its services beyond Southeast Asia, supporting Chinese clients in expanding into Europe and other global markets, and offering precise guidance throughout their international journey.
Fangda advised Midea Group’s Wuhu Maty Air-Conditioning Equipment Co., Ltd. on its acquisition of 100% equity interest in BDR Thermea (Zhejiang) Co., Ltd. and its PRC subsidiaries from the Netherlands-based BDR Thermea Group B.V. (“BDR Thermea Group”). The transaction was signed on May 12, 2025, and closed on June 18, 2025. Following the transaction, Midea Group and BDR Thermea Group will conduct multiple strategic cooperations.
Fangda also represented Midea Group’s Midea Electrics Netherlands B.V. in the formation of the joint venture, Frigicoll HVAC, S.L., with Midea Group’s longstanding European partner Frigicoll S.A. (“Frigicoll”). Operating the brands Midea Frigicoll HVAC Spain and Midea HVAC France, the joint venture marks a significant step in expanding Midea Group’s European footprint. The transaction was signed on July 18, 2025, and completed in September 2025.
Midea is a global technology group covering six business segments, including smart home, building technologies, industrial technology, robotics and automation, healthcare, and smart logistics. With an R&D investment of nearly RMB 60 billion over the past five years, Midea offers brands such as Little Swan, COLMO, KUKA and more. Serving over 500 million users annually, Midea operates 400+ subsidiaries, 38 R&D centres and 63 production bases across 200+ countries and regions.
BDR Thermea Group, headquartered in Apeldoorn, the Netherlands, as a global leader in smart indoor heating and cooling solutions, serves customersin more than 100 countries worldwide with market-leading brands. Its portfolio includes renowned names such as Baxi, De Dietrich, Remeha, Br?tje, Chappée and Baymak. In China, BDRT China operates four major brands: Baxi, De Dietrich, Remeha, and Br?tje. Its main products include gas-fired heating boilers and water heaters for both domestic and commercial use.
Frigicoll HVAC, S.L. will focus on delivering high-performance, energy-efficient, and environmentally friendly HVAC solutions for residential, commercial, and industrial facilities, further driving brand growth and technological innovation.
In both transactions, Fangda provided comprehensive one-stop legal services to Midea Group, covering transaction structuring, legal due diligence, document drafting and negotiation, and assistance with signing and closing. The transactions were co-led by Peng TAN and Suyin TAN from Beijing and Singapore offices, with support from Antitrust partners Michael HAN and Jin WANG and IP partner Claudia YUN. Team members included Stacy SHI, Yuho BONG, Yijiu WU, Amanda YU, Susan YU and Mingze YEO.
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