U.K's CMA Provisionally Clears Arcelik - Whirlpool Deal

(RTTNews) - The U.K.'s Competition and Markets Authority or CMA has provisionally found that the deal between Arcelik and Whirlpool is not likely to raise significant competition concerns.

The provisional decision to clear the deal has been made by an independent CMA panel, as part of an in-depth Phase 2 investigation. The panel considered a wide range of evidence, including extensive engagement with Arcelik and Whirlpool, their customers, competitors, and others. The panel has provisionally found that consumers will continue to have a wide range of choices following the deal, the CMA said in a statement.

Interested parties are invited to provide feedback on the CMA's provisional findings by February 29, 2024. These will be considered ahead of issuing its final report, which is due by 26 March 2024, the CMA said.

In January 2023, Whirlpool announced an agreement to contribute its European major domestic appliance (MDA) business into a newly formed entity with Arcelik.

As per the terms of the agreement, Whirlpool would contribute its European major domestic appliance business, and Arcelik will contribute its major domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses into the newly formed entity of which Whirlpool would own 25% and Arcelik 75%.