G & L Beijer AB (publ) completes its acquisition of Carrier Corporation's refrigeration wholesale operations in Europe and South Africa

G & L Beijer AB (publ) completes its acquisition of Carrier Corporation's
refrigeration wholesale operations in Europe and South Africa 

As previously announced, G & L Beijer AB (publ) entered into a final agreement
for the acquisition of Carrier Corporation's refrigeration wholesale operations
in Europe and South Africa (“Carrier ARW”) on 13 January 2009. Today, 30
January, G & L Beijer AB and Carrier Corporation have completed the transaction
on the terms published in the news release on 13 January 2009. 

The acquisition of Carrier ARW was completed through G & L Beijer AB's
acquisition of all shares in PB Holdings Luxembourg S.a.r.l., General
Frigorifique SAS and Delmo France SAS. Payment for the acquired operations was
made through a non-cash issue of 358,710 class A shares and 8,437,429 class B
shares in G & L Beijer AB to Carrier Corporation's subsidiaries: Carrier
Refrigeration ECR Holding Luxembourg S.a.r.l. and UTX Holdings SCS, resolved by
the extraordinary General Meeting of G & L Beijer AB on 29 January 2009. The
total capital contributed in kind has a value of SEK 1,055.5M and will be
entered at this value in G & L Beijer AB's balance sheet.

“The acquisition of Carrier ARW is a milestone and the largest transaction in G& L Beijer's history. We will now put all our energy into co-ordinating and
integrating the operations in order to take advantage of synergy gains. We look
forward to an exciting collaboration with our new and major shareholder,
Carrier, which can contribute to the Groups continued expansion,” says Joen
Magnusson, Managing Director of G & L Beijer.


Malmö, 30 January 2009
G & L Beijer AB (publ)
Board of Directors

For further information, please contact: Joen Magnusson, Managing Director G & L
Beijer AB
Telephone +46 40-35 89 00, Mobile +46 709-26 50 91

G & L Beijer AB is a technology-oriented Group, operating in industrial trading,
with sales in excess of SEK 3 billion. The Group includes the two business areas
- Beijer Ref and Beijer Tech. Beijer Ref, which reported sales in excess of SEK
2.5 billion in 2007, markets and sells refrigeration products and systems in 21
countries. Beijer Tech, which reported sales of more than SEK 600M in 2007,
carries out technology trading, mainly in Sweden, Norway and Finland, through a
group of specialised companies. An important part of the strategy of both
business areas is to grow through acquisitions. During the past five-year
period, the Group has reported profitable annual growth of 17 per cent on
average.