Whirlpool Corp. completes first purchase of Indesit stock

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Jul 17, 2014, 03:06 ET

BENTON HARBOR, Mich. and MILAN, July 17, 2014 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) announces that today it has completed the purchase of 4.4 percent of Indesit Company S.p.A. (BIT: IND) shares from Mrs. Claudia Merloni, as set out by the relevant agreement entered into on July 10, 2014. Whirlpool and Fineldo S.p.A. announced on July 10, 2014 that Whirlpool, Fineldo S.p.A. and members of the Merloni family (among others, Mrs. Claudia Merloni) entered into binding agreements for the acquisition by Whirlpool of shares representing a total of 66.8 percent of the voting stock of Indesit. Today's purchase is the first part of this transaction to close. The acquisition of the remaining shares, representing a majority stake of Indesit, is subject to judicial and antitrust approvals and is expected to close by the end of 2014 as indicated in the press release issued on July 10.

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.

Whirlpool Additional Information

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this press release relating to the acquisition of the shares in Indesit pursuant to the share purchase agreements constitute "forward-looking statements" within the meaning of the U.S. federal securities laws. These statements reflect management's current expectations regarding future events and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance and will not necessarily be accurate indications of whether or not, or the times at or by which, events will occur. Actual performance may differ materially from that expressed or implied in such statements. These statements rely on assumptions which may or may not be realized. Reference should be made to the information set forth under the heading "Cautionary Statements Regarding Forward-Looking Statements" as set forth in Whirlpool's Current Report on Form 8-K dated July 10, 2014 and filed with the U.S. Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.

SOURCE Whirlpool Corporation