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ARCLK - Arcelik AS News Story

TRY32.86 0.0  0.0%

Last Trade - 09/04/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.99bn
Enterprise Value £2.46bn
Revenue £3.66bn
Position in Universe 20th / 645

BRIEF-Arcelik Signs Share Purchase Agreement Worth $300 Mln With Hitachi Global Life Solutions To Establish Joint Venture

Wed 16th December, 2020 5:15am
Dec 16 (Reuters) - ARCELIK AS  ARCLK.IS :
    * ARCELIK SIGNS SHARE PURCHASE AGREEMENT WITH HITACHI GLOBAL
LIFE
SOLUTIONS TO ESTABLISH JOINT VENTURE
    * ARCELIK SAYS HITACHI GLS TO SET UP NEW COMPANY IN
NETHERLANDS
AND TRANSFER ALL ASSETS AND HOME APPLIANCES BUSINESS LINES OWNED
BY ITS 12 UNITS TO NEW COMPANY
    * ARCELIK SAYS WILL BUY 60% OF THE SHARES OF THIS COMPANY
    * ARCELIK SAYS TRANSACTION VALUE IS CALCULATED AS $300
MILLION ON
CASH-FREE AND DEBT-FREE BASIS FOR 60% OF BUSINESS, INCLUDING ALL
MINORITY INTERESTS
    * ARCELIK SAYS TRANSACTION IS SUBJECT TO FULFILMENT OF
CLOSING
CONDITIONS IN SPAS INCLUDING APPROVALS TO BE GRANTED BY 
REGULATORY AUTHORITIES
    * ARCELIK SAYS THE TRANSACTION IS EXPECTED TO BE CLOSED BY 1
APRIL
2021

Source text for Eikon:  ID:nIKAbzm7pH 
Further company coverage:  ARCLK.IS 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))
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