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ARCLK - Arcelik AS News Story

TRY31.96 0.0  0.0%

Last Trade - 4:00pm

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.92bn
Enterprise Value £2.39bn
Revenue £3.65bn
Position in Universe 22nd / 645

BUZZ-Arcelik: Might be long before new JV with Hitachi pays off

Wed 16th December, 2020 9:00am
** Shares in Turkish Arcelik  ARCLK.IS  fall 2.5% after the
white goods producer signed a share purchase agreement with
Japanese Hitachi  6501.T  to set up a joint venture in the
Netherlands  urn:newsml:reuters.com:*:nFWN2IV0U8
    ** The transaction, which is valued at $300 mln and will see
Arcelik buying 60% of the JV, could further weigh on the
company's indebtedness  
    ** ICBC Yatirim says fall in Arcelik's shares can derive
from the company's current indebtedness and the fact that it
might be long before the investment pays itself off  
    ** The JV will take over two Hitachi production facilities
based in Thailand and China
    ** Shares are sitting at the bottom of Turkey's blue chip
index  .XU100  
    

 (Oben.mumcuoglu@tr.com)
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