The European Comission October 23 has been set as the deadline to resolve its analysis of the joint venture of home appliances who have agreed to create the American Whirlpool and the Turkish Arçelik.
The date appears in the digital register of mergers and concentrations of the Community Executive, where it is also reported that the operation was notified to the institution’s Competition services on September 18.
The transaction, Brussels explains in an informative note, will allow both companies “combine their complementary portfolios of products, brands and local presence while achieving cost efficiencies and synergies throughout the value chain.”
This will cause “the entity will be able to compete better with the wide range” of rivals within the household appliances sector that are active within the European Economic Area (EEA)as well as “continue developing innovation and sustainability efforts.”
The two companies announced in January the agreement to create this new company, of which the Turkish Arçelik will have 75% of the capital and the remaining 25% will be owned by Whirlpool.
Source: EFE
Source: Gestion
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