Whirlpool Aquires Control Of Italian Appliance Brand Indesit
The aquisition was made through the US Companies wholly owned subsidiary Whirlpool Italia Holdings a 56% stake in Indesit Company S.p.A. The stake represents 61.9% of the voting stock of Indesit. Indesit is an Italian-based appliance maker.
The acquisition bring Whirlpool’s total stake in Indesit to 60.4%, representing 66.8% of the voting stock.
“The appliance market in Europe is competitive and increasingly global. This transaction will build our market position and enable sustainable growth” said Whirlpool Chairman and CEO Jeff M. Fettig.