The European Union (EU) Commission approved Arcelik’s acquisition of Whirlpool’s home appliance operations in Europe, the Middle East and Africa.
The EU Commission announced that, within the framework of Union company merger rules, it has approved the acquisition of sole control of the home appliance operations of the US company Whirlpool Corporation in Europe, the Middle East and Africa by Arcelik Inc. from Turkiye.
Pointing out that the transaction in question is related to the supply of home appliances, the statement said, “The Commission has concluded that the transaction will not raise competition concerns, especially considering the existence of alternative suppliers in the European Economic Area countries where both parties operate.”
In January, Arcelik signed an agreement with Whirlpool, one of the world’s leading home appliance manufacturers, to acquire its production, sales and marketing subsidiaries in Europe.
Supervising mergers and acquisitions in large-scale companies operating in European countries is among the powers of the EU Commission.
The EU Commission evaluates whether there is an anti-competitive situation in the investigations and investigations it carries out for this purpose.
If anti-competitive situations are detected, the EU Commission can block mergers or acquisitions.
Arcelik, which is traded on Borsa Istanbul, rose by approximately 3% to ₺153 after the decision.
Source: AA / Prepared by Irem Yildiz