An international team of experts from the firm's competition, Chinese and Belgian corporate practices supported the European division of Japan's Daikin Group on reaching an agreement for the acquisition of Austrian refrigeration specialists, AHT Cooling Systems.

International law firm Fieldfisher has advised Daikin Europe NV, the Belgian subsidiary of the world's largest air-conditioning manufacturer, Japan's Daikin Industries Ltd., on reaching an agreement for the acquisition of Austrian commercial refrigeration company AHT Cooling Systems from UK private equity group, Bridgepoint. The signing of the deal took place on 22 November.

The transaction value is €881 million (£785 million) and will help Daikin diversify its operations and pursue global growth opportunities outside its core air-conditioning business.

Fieldfisher partner Tom Pick (Brussels), supported by senior associate Jessica Gardner (London), who are both members of the firm's competition, regulatory and trade group, have been advising Daikin on all competition-related matters pertaining to the transaction.

Other Fieldfisher partners involved in the transaction were corporate M&A partner Thomas Lenné (Brussels), Fieldfisher China's managing partner Zhaofeng Zhou (Shanghai) and corporate M&A partner Liang Xing (Shanghai).

Daikin's transaction was the latest in a number of high value M&A deals Fieldfisher has advised on in 2018 and showcases the firm's growing international presence, having most recently opened its third Chinese office in Guangzhou in August.