China's Midea To Acquire 32.5% Stake In Egyptian Miraco

Chinese electronics and home appliances maker Midea has announced that it plans to invest CNY392 million to acquire a 32.5% stake in Egypt's Misr Air Conditioning Manufacturing Company (Miraco) from United Technologies Corporation. Upon the completion of this acquisition, UTC will still be the largest shareholder of Miraco by holding a 37.1% stake via its […]