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Geberit closes purchase of Sanitec

Geberit AG on Feb. 2 completed its acquisition of Sanitec Corp. for a transaction value of 10.98 billion Swedish kronor (US$1.33 billion).

The company offered 97 kronor per share for the stake.

In addition to general closing conditions, the deal required additional review for antitrust concerns.

JPMorgan Chase & Co. was the financial adviser for Geberit, and Gleiss Lutz, Latham & Watkins LLP and Roschier Attorneys Ltd. were the legal advisers.

Hannes Snellman Attorneys Ltd. was the legal adviser for Sanitec.