European Commission Approves Whirlpool's Acquisition of Indesit

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Oct 13, 2014, 12:15 ET

BENTON HARBOR, Mich., Oct. 13, 2014 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) announced today that the European Commission approved the acquisition of a majority stake in Indesit Company S.p.A. (BIT: IND) by Whirlpool Italia Holdings S.r.l., the company's wholly owned subsidiary.

European Commission approval is an important milestone in meeting the closing conditions under the share purchase agreement entered into with Fineldo S.p.A. on July 10, 2014. The company expects to complete the next steps necessary for closing the transaction in the near future.

About Whirlpool Corporation

Whirlpool Corporation is the world's leading global manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion in 2013, 69,000 employees and 59 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names. Additional information about the company can be found at http://www.whirlpoolcorp.com.

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SOURCE Whirlpool Corporation