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Arçelik Anonim Sirketi (ARCLK.IS)
- Reuters
Arcelik's European deal with Whirlpool gets EU approval
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.
- Reuters
UK watchdog refers in-depth probe into Arcelik's European deal with Whirlpool
The Competition and Markets Authority (CMA) said the decision for a Phase 2 probe was taken after the parties informed the regulator they would not offer any undertakings towards addressing any potential substantial lessening of competition within the UK due to the deal. The CMA last month said the deal could reduce choices in the supply of major household appliances. The deal would include Arcelik and Whirlpool setting up a new entity comprising the two companies' European units, selling small and major domestic appliances and consumer electronics, the duo had announced in January.
- Reuters
UK watchdog to probe deeper into Arcelik's European deal with Whirlpool
The deal could reduce choices in the supply of major household appliances and will be referred for a so-called phase-2 investigation unless Arcelik addresses its concerns, the Competition and Markets Authority (CMA) said in a statement. The deal would include Arcelik and Whirlpool setting up a new entity comprising the two companies' European units, selling small and major domestic appliances and consumer electronics, the two announced in January.
