OSAKA: Japan's Daikin Industries Ltd, the world's second-largest maker of air conditioners, said on Friday that it is still interested in buying US rival Goodman Global Group but that talks on a deal remain on hold due to uncertainty over the global economy.
Daikin, which rivals United Technologies Corp air conditioning unit Carrier, last April postponed discussions following the devastating March 11 earthquake and tsunami in Japan.
Some analysts have said, however, that Daikin, which has flagged its ambition to become the biggest player in the heating, ventilation and air-conditioning sector (HVAC), would be better off pursuing opportunities in emerging markets as they have more potential for growth.
Company executives told reporters at a briefing that negotiations over Goodman remained on hold as it would be tough to make any large-scale investment due to concerns over the global economy.
San Francisco-based private equity firm Hellman & Friedman in late 2010 put Goodman on the auction block and contacted a number of potential bidders, in what was viewed at the time as a $4 billion deal.
Shares of Daikin were up 1 percent in early afternoon trade, inline with the benchmark Nikkei 225.
Comments
Comments are closed for this article.