Arcelik's European deal with Whirlpool gets EU approval

Arcelik

24/10/2023 13:28

GDANSK, Oct 24 (Reuters) - EU antitrust regulators have
cleared Turkish domestic appliances maker Arcelik's  ARCLK.IS 
proposed purchase of Whirlpool's  WHR.N  European domestic
appliances business, an European Commission filing showed on
Tuesday.
    "The Commission concluded that the transaction would not
raise competition concerns given in particular the presence of
alternative suppliers in the European Economic Area countries
where both parties are active," the European Commission said in
a statement.
    Under the deal announced in January, the companies will set
up a new entity made up of Arcelik's European units producing
major and small domestic appliances as well as consumer
electronics with Whirlpool's European business.
    Arcelik will own 75% of the company and Whirlpool the
remaining 25%.
    Britain's antitrust regulator said on Oct. 11 it had decided
to refer the deal for an in-depth investigation.
    If the deal were to go ahead, the new entity would be the
largest single supplier of washing machines, tumble dryers,
dishwashers and cooking appliances in the UK, where the market
is worth more than 3.8 billion pounds ($4.67 billion), the UK's
Competition and Markets Authority (CMA) said.
    Whirlpool's brands include Ariston, 34 Indesit, Hotpoint,
Ignis, Privileg, Bauknecht, Polar and Laden.
    Arcelik's brands are Beko, Blomberg, Arctic, Altus, Grundig,
Flavel, Leisure, Zenith and Elektrabregenz.

 (Reporting by Canan Sevgili; editing by Daren Butler and Jason
Neely)
 ((canan.sevgili@thomsonreuters.com;))