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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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08-06-2023 07:43:02 (UTC+7)

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    EUR/USD 1.0707 Neutral  
    GBP/USD 1.2447 ↑ Sell  
    USD/JPY 139.92 ↑ Sell  
    AUD/USD 0.6663 ↑ Sell  
    USD/CAD 1.3363 ↑ Sell  
    EUR/JPY 149.82 ↑ Sell  
    EUR/CHF 0.9736 ↑ Sell  
    Gold 1,960.25 ↑ Buy  
    Silver 23.573 ↑ Buy  
    Copper 3.7542 Neutral  
    Crude Oil WTI 72.47 Buy  
    Brent Oil 76.84 Neutral  
    Natural Gas 2.322 ↑ Sell  
    US Coffee C 186.10 Buy  
    Euro Stoxx 50 4,291.91 ↑ Sell  
    S&P 500 4,267.52 ↑ Sell  
    DAX 15,960.56 ↑ Sell  
    FTSE 100 7,624.34 Sell  
    Hang Seng 19,252.00 ↑ Sell  
    Small Cap 2000 1,891.11 ↑ Buy  
    IBEX 35 9,359.80 ↑ Sell  
    BASF 46.450 ↑ Buy  
    Bayer 52.13 Neutral  
    Allianz 208.85 Neutral  
    Adidas 159.26 Buy  
    Lufthansa 9.133 ↑ Buy  
    Siemens AG 158.46 ↑ Buy  
    Deutsche Bank AG 9.812 Buy  
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