WHR - Whirlpool Corporation Completes Major Milestone in its Portfolio Transformation with Closing of EMEA Transaction | Benzinga
BENTON HARBOR, Mich., April 2, 2024 /PRNewswire/ -- Whirlpool Corporation today announced the completion of its transaction with Arçelik A.? ("Arcelik"). This marks a significant step in Whirlpool Corporation's portfolio transformation and is expected to provide considerable opportunities to maximize value.
The transaction creates a new European appliance company by combining Whirlpool Corporation's European major domestic appliance business with Arcelik's major domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses. Whirlpool Corporation now owns 25 percent of this new entity, called Beko Europe B.V., and Arcelik owns 75 percent1. Whirlpool Corporation is retaining ownership of InSinkErator and its EMEA KitchenAid small and major domestic appliance business. Separately, Whirlpool Corporation also completed its previously announced sale of the company's Middle East and North Africa business to Arçelik A.?.
"The completion of this transaction highlights our significant ...