Italian climate control manufacturer Riello is to be taken over by the American UTC Climate, Controls & Security, a statement from the company said.
UTC is to by a 70% stake in the Verona-based manufacturer
of heating and air-conditioning systems, while the remaining 30%
will remain with the Riello family.
"It is a historic moment," said company chairman Ettore
Riello.
The operation should be completed early in the New Year.
The statement said the terms of the agreement would not be
made know.
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