EU antitrust regulators set Oct. 23 deadline for Arcelik, Whirlpool deal
Reuters
Published Sep 21, 2023 06:54AM ET
Updated Sep 21, 2023 12:12PM ET
BRUSSELS (Reuters) - EU antitrust regulators will decide by Oct. 23 whether to clear Turkish domestic appliances maker Arcelik's proposed purchase of Whirlpool (NYSE:WHR)'s European domestic appliances business, an European Commission filing showed on Thursday.
Under the deal announced in January, the companies will set up a new entity made up of Arcelik's European units such as major domestic appliances, small domestic appliances and consumer electronics and Whirlpool's European business.
Arcelik will own 75% of the company and Whirlpool the remaining 25%.
The EU competition watchdog can either clear the deal with or without seeking remedies after its preliminary review or it can open a four-month investigation if it has serious concerns.
The UK competition agency is also assessing the deal, with a decision due by Sept. 28.
Whirlpool's brands include Ariston, 34 Indesit, Hotpoint, Ignis, Privileg, Bauknecht, Polar, and Laden, while Arcelik's brands are Beko, Blomberg, Arctic, Altus, Grundig, Flavel, Leisure, Zenith, and Elektrabregenz.
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Written By: Reuters
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