Samsung Electronics Co. has agreed to buy FläktGroup Holding GmbH for €1.5 billion ($1.7 billion), acquiring the European heating and cooling specialist in its biggest overseas takeover in eight years.

Samsung Electronics Co. is closing in on an agreement to buy FläktGroup Holding GmbH, acquiring the European heating and cooling specialist in its biggest overseas takeover in eight years.Most Read from BloombergA New Central Park Amenity,

Samsung Electronics has announced its largest acquisition in nearly a decade, agreeing to purchase German HVAC specialist FlktGroup for 1.5 billion ($1.68 billion) from European private equity firm Triton.