Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Centrotec SE (‘Centrotec’) on the sale of Centrotec Climate Systems GmbH (‘CCS’) to Ariston Holding N.V. (‘Ariston’). CCS, with its successful brands Wolf, Brink, Pro-Klima and Ned Air, will become part of the Ariston Group. The Transaction will entail a cash payment of approx. €700 million (on a cash- and debt-free basis) and the subscription by Centrotec to approximately 41.4m Ariston shares. Centrotec will become the second largest shareholder of Ariston. The Transaction will enrich Ariston’s offer of sustainable heating systems and represents a major step towards the Ariston group’s ESG objectives. It further strengthens Ariston’s position in Europe, in particular in Germany and the Netherlands. With a substantial shareholding of more than 10% (post-transaction) and a seat on Ariston’s board of directors, Centrotec will continue to be part of the growth journey of its former climate systems segment and benefit from the positive synergies CCS will bring to Ariston’s business. The Freshfields team was led by Partner Kai Hasselbach and included Principal Associate Max Alles, Associates Sandra Jung and Victoria Müller (all Corporate, Munich), Partner Thomas Wessely, Principal Associate Amaryllis Müller and Associate Klaus Kowalski (all Antitrust, Brussels) as well as Partner David Beutel and Counsel Martin Rehberg (both Tax, Munich). They were supported by the Freshfields offices in Milan and Amsterdam. From the Centrotec inhouse side, the transaction was led by Christian Eggert.