Ariston jumps 11%, market cheers group's biggest deal on record
16/09/2022 09:08
** Ariston Holding ARIS.MI shares jump as much as 11%
after the Italian heating solutions group signed a deal to buy
100% of Centrotec Climate Systems from Centrotec CEVG.H , the
biggest deal in the history of the group urn:newsml:reuters.com:*:nFWN30M1N0
** "In our view, the deal makes strong strategic sense, as
with this operation Ariston substantially increases its exposure
to Germany", Equita says
** The broker notes that the deal strengthens the group's
placement in the heating and air handling sectors and further
"diversifies the business with opportunities to generate
interesting synergies"
** By 1000 GMT shares spike 9.6% a 8.06 euros after hitting
their highest since Aug. 22
(Reporting by Alessandro Parodi and Giancarlo Navach, editing
Maria Pia Quaglia)
((alessandro.parodi@thomsonreuters.com))