LU-VE Group Acquires Remaining 25% Stake in Refrion S.r.l.

LU-VE Group, a leading air heat exchanger manufacturer, has completed the acquisition of the remaining 25% of its subsidiary, Refrion S.r.l., based in Flumignano, Udine. The company announced the closure of this transaction.

Following the initial purchase of 75% in February 2022, LU-VE Group retained the option to buy the outstanding share within five years. This acquisition finalizes their full ownership of Refrion.

The deal does not impact LU-VE Group's financial position or minority interests' value, as the purchase price aligns with the International Financial Reporting Standards (IFRS) and was accounted for in the Group’s financial debts.