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Nidec sells Secop Compressor Business to ESSVP IV
Two Nidec subsidiaries, Nidec Europe B.V. and Nidec Americas Holding Corp. will sell Nidec’s entire compressor business, Secop, to ESSVP IV (ESSVP IV (Structured) L.P. and Silenos GmbH & Co. KG).
This transaction is made following Nidec’s commitment to the European Commission to sell certain of its compressor business lines to a suitable purchaser as condition for the European Commission’s approval of Nidec’s acquisition of Embraco from Whirlpool Corporation, which was obtained on April 12, 2019, a short news announcement states.
The current transaction is subject to regulatory approvals in Germany, Austria and Spain, as well as the approval of the European Commission.
