De’Longhi Appliances S.r.l., company belonging to the Italian De’Longhi Group, has signed an industrial partnership agreement with H&T Intelligent Control International Co., a company belonging to the Chinese industrial group H&T, which operates in the electronic business, with its headquarters in Shenzhen (China), for the sale of 55% of the share capital of NPE S.r.l, currently fully controlled by De’ Longhi Appliances.
The closing of the transaction, which is made subject to the applicable antitrust clearances, is expected to take place by the end of March 2018. De’ Longhi Appliances will still be involved in all strategic decisions and main organizational matters of NPE S.r.l. Furthermore, the agreement provides for the sale to H&T of an additional 25% in the first half of 2020, at a price that will be determined on the basis of the degree of achievement by NPE of certain key economic target indicators.
