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Whirlpool to divest most of EMEA ops, form new entity with Turkey's Arcelik

(Reuters) -U.S. home appliances maker Whirlpool Corp (NYSE:WHR) said on Tuesday it would divest major parts of its Europe, Middle East and Africa (EMEA) business and form a new...
Whirlpool to divest most of EMEA ops, form new entity with Turkey's Arcelik © Reuters. The administrative entrance at the Whirlpool plant in Clyde, Ohio, U.S. October 3, 2017. Picture taken October 3, 2017. REUTERS/Aaron Josefczyk
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(Reuters) -U.S. home appliances maker Whirlpool Corp (NYSE:WHR) said on Tuesday it would divest major parts of its Europe, Middle East and Africa (EMEA) business and form a new Europe-focused entity with Turkish household appliances manufacturer Arcelik.

The new entity will consist of Whirlpool's major domestic appliance business in Europe and Arcelik's major domestic appliance, consumer electronics, air conditioning and small domestic appliance businesses, the company said in a statement.

Whirlpool will own 25% of this new entity, while Arcelik will have the rest, the U.S.-based company added.

Separately, Whirlpool also said it will sell the entirety of its Middle East and Africa business to Arcelik, while retaining ownership of its EMEA KitchenAid small domestic appliance business.

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24-02-2024 11:50:02 (UTC+7)

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    EUR/USD 1.0821 Buy  
    GBP/USD 1.2671 Sell  
    USD/JPY 150.52 Neutral  
    AUD/USD 0.6564 ↑ Sell  
    USD/CAD 1.3510 ↑ Buy  
    EUR/JPY 162.88 Neutral  
    EUR/CHF 0.9535 ↑ Buy  
    Gold 2,045.80 ↑ Sell  
    Silver 22.977 ↑ Buy  
    Copper 3.8690 Neutral  
    Crude Oil WTI 76.57 ↑ Buy  
    Brent Oil 81.58 ↑ Buy  
    Natural Gas 1.582 ↑ Sell  
    US Coffee C 179.85 ↑ Sell  
    Euro Stoxx 50 4,872.25 Buy  
    S&P 500 5,088.80 ↑ Sell  
    DAX 17,419.33 Neutral  
    FTSE 100 7,706.28 ↑ Sell  
    Hang Seng 16,725.86 ↑ Sell  
    Small Cap 2000 2,016.69 ↑ Sell  
    IBEX 35 10,130.60 Buy  
    BASF 46.600 ↑ Buy  
    Bayer 28.82 ↑ Sell  
    Allianz 246.50 Buy  
    Adidas 188.78 Neutral  
    Lufthansa 7.381 ↑ Buy  
    Siemens AG 175.30 ↑ Sell  
    Deutsche Bank AG 12.390 Neutral  
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