A multi-way valve for controlling a refrigerant circuit of a refrigeration system with a heat pump function, having a housing which has two mutually opposite end faces which each comprise an insertion opening to which a regulating chamber is connected, having multi-way valve arrangements which can each be inserted in the regulating chamber, the multi-way valve arrangement comprising at least one base body and a rotary slide valve arrangement, with in each case one connection in the housing, which open into the respective regulating chamber, and with at least further connections in the housing, which open into at least one channel which extends between the regulating chambers.