G & L Beijer closes the transaction regarding Toshiba

G & L Beijer closes the transaction regarding Toshiba

G & L Beijer AB closes the transaction with Carrier Corporation
regarding the Toshiba distribution operations for residential and light
commercial heating and air conditioning products in 11 European
countries. The transaction, as previously announced, means that Carrier
transfers employees and assets to G & L Beijer for consideration of
approximately EUR 86M (SEK 790M) on a debt-free basis.

Sales for Toshiba's distribution operations in the countries involved
amounted to EUR 130M (approximately SEK 1,200M) and operating profit
amounted to EUR 9.6M (SEK 88M) for the latest 12-month period ending
first quarter 2011. The operation has approximately 160 employees.

The Toshiba distribution business will be included in G & L Beijer's
accounts beginning 1 October 2011. Based on a rolling twelve-month
period up to and including June 2011, G & L Beijer, including the
acquired operation, would report pro forma sales of approximately 6,600M
with an operating profit of around SEK 500M. The acquisition is
estimated to affect G & L Beijer's profit per share positively by
approximately SEK 2 on an annual basis.

Malmö, 30 September 2011

G & L Beijer AB (publ)

For further information, please contact:

Joen Magnusson, CEO
G & L Beijer AB
Telephone +46 40-35 89 00
Mobile +46 709-26 50 91

or

Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04

G & L Beijer is a technology-oriented trading Group which, through a
combination of added-value agency products and products of the company's
own development, offers competitive solutions for its customers within
refrigeration and air conditioning.

In the previous year, operations were consolidated into comprising only
products within refrigeration and air conditioning.