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
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