EU antitrust regulators set Oct. 23 deadline for Arcelik, Whirlpool deal. According to a filing that the European Commission submitted on Thursday, EU antitrust regulators will make their decision on whether or not to clear the proposed takeover of Whirlpool’s (WHR.N) European domestic appliances unit by Turkish domestic appliance producer Arcelik (ARCLK.IS) by October 23.
As part of the agreement that was announced in January, the two businesses will create a new company comprising the European operations of Arcelik, including big home appliances, small domestic appliances, and consumer electronics, as well as the European operations of Whirlpool. Whirlpool will own 25% of the company, while Arcelik will own 75%.
After conducting a preliminary evaluation, the EU competition authority may either provide clearance for the transaction with or without the need to seek remedies, or it may initiate a four-month inquiry if it has significant concerns.
The merger is also being evaluated by the competition agency in the UK, which is expected to make a judgment by September 28.
Ariston, 34 Indesit, Hotpoint, Ignis, Privileg, Bauknecht, Polar, and Laden are some of the brands that Whirlpool carries, and some of the brands that Arcelik carries include Beko, Blomberg, Arctic, Altus, Grundig, Flavel, Leisure, Zenith, and Elektra Bregenz.
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