Arcylic – spiral.  The European Commission approved the takeover

The European Commission has approved the acquisition of Whirlpool’s large home appliances business in Europe, the Middle East and Africa by Turkish company Arcelik. According to the European Commission, the merger “does not raise competition concerns.”

The European Commission received the concentration notification on 18 September this year. The decision in this regard was taken on Monday. The European Commission announced in a statement that it has approved Arcelik AS of Turkey’s acquisition of exclusive control of Whirlpool Corporation’s operations in Europe, the Middle East and Africa.

Arcelik and Whirlpool merger

“The Commission concluded that the deal does not raise competition concerns, in particular due to the presence of alternative suppliers in the European Economic Area countries where both parties operate. The deal was examined under normal merger control procedures,” we read.

Reuters reported that the merger would create a new entity consisting of European companies Arcelik and Whirlpool. “Arcelik will own 75 percent of the company’s shares, and Whirlpool will own the remaining 25 percent.” – added.

Arcelik owns the following brands: Beko, Blomberg, Arctic, Altus, Grundig, Flavel, Leisure, Zenith and Elektrabregenz. In addition to the Whirlpool brand, Whirlpool includes: Ariston, Indesit, Hotpoint, Ignis, Privileg, Polar, Laden and Bauknecht.

The British Antitrust Authority announced on October 11 this year that it had decided to initiate detailed proceedings regarding the planned merger.

The office noted that if the deal is completed, the new entity will be the largest supplier of washing machines, dryers, dishwashers and other home appliances in the United Kingdom. The market value was reported to be more than £3.8 billion.

Main image source: Stock struggle

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Germany is under threat. Market crash warning

The signatories to the letter called on the government to pay attention…

Hit “Gas Station Simulator” on Steam. UFOs, mines and exotic cars. It will pay you back in 1.5 hours

“Gas Station Simulator”, a Polish game developed by Drago Entertainment and published…

McDonald’s withdraws from Russia. It is known who will take over the restaurants

Alexander Gower will take over all McDonald’s restaurants in Russia, according to…

The government is demanding that the belt tighten. Companies are already laying off workers and people are looking for part-time jobs

Switching to work mode for four days did not help. Window factory…