UK watchdog refers in-depth probe into Arcelik's European deal with Whirlpool (updated)

Arcelik

11/10/2023 07:22

(Adds details on probe decision in paragraph 2, deal background
in paragraphs 4 and 5)
       Oct 11 (Reuters) - Britain's antitrust regulator said on
Wednesday it has decided to refer for an in-depth investigation
into Turkish domestic appliances maker Arcelik's  ARCLK.IS 
proposed purchase of Whirlpool's  WHR.N  appliances business in
Europe.
     The Competition and Markets Authority (CMA) said the
decision for a Phase 2 probe was taken after the parties
informed the regulator they would not offer any undertakings
towards addressing any potential substantial lessening of
competition within the UK due to the deal.
        The CMA last month 
    said
     the deal could reduce choices in the supply of major
household appliances.
  
        The deal would include Arcelik and Whirlpool setting up
a new entity comprising the two companies' European units,
selling small and major domestic appliances and consumer
electronics, the duo had announced in January.
  
        If the deal were to go ahead, the new entity would be
the largest individual 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 CMA said.
  

    ($1 = 0.8139 pounds)
  

 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Savio D'Souza and Sohini Goswami)
 ((abyjose.koilparambil@thomsonreuters.com))