EU antitrust regulators have cleared Turkish domestic appliances maker Arcelik’s proposed purchase of Whirlpool’s European domestic appliances business, an European Commission filing showed on Tuesday.
“The Commission concluded that the transaction would not raise competition concerns given in particular the presence of alternative suppliers in the European Economic Area countries where both parties are active,” the European Commission said in a statement.
Under the deal announced in January, the companies will set up a new entity made up of Arcelik’s European units producing major and small domestic appliances as well as consumer electronics with Whirlpool’s European business.
Arcelik will own 75% of the company and Whirlpool the remaining 25%.
Britain’s antitrust regulator said on Oct. 11 it had decided to refer the deal for an in-depth investigation.
If the deal were to go ahead, the new entity would be the largest single supplier of washing machines, tumble dryers, dishwashers and cooking appliances in the UK, where the market is worth more than 3.8 billion pounds ($4.67 billion), the UK’s Competition and Markets Authority (CMA) said.
Whirlpool’s brands include Ariston, 34 Indesit, Hotpoint,Ignis, Privileg, Bauknecht, Polar and Laden.
Arcelik’s brands are Beko, Blomberg, Arctic, Altus, Grundig, Flavel, Leisure, Zenith and Elektrabregenz.
Source: reuters