Seoul, Nov. 6 -- Samsung Electronics Co. announced on Thursday that it has completed the acquisition of FlaktGroup, Europe's largest air handling and heating, ventilation, and air conditioning (HVAC) company, as per a report by Pulse, the English service of Maeil Business News Korea.

In May, Samsung Electronics signed an agreement to acquire a full stake in FlaktGroup for 1.5 billion euros (USD 1.7 billion).

"FlaktGroup supplies central air conditioning products and solutions to homes, offices, schools, hospitals, and industrial facilities across 65 countries, generating more than 700 million euros in annual revenue. It is recognized as a top-tier global HVAC company. Through the acquisition, Samsung Electronics aims to strengthen its c...