Whirlpool Announces Completion Of Transaction With Arçelik - Quick Facts

(RTTNews) - Whirlpool Corporation announced the completion of its transaction with Arçelik, creating a new European appliance company. Whirlpool now owns 25 percent of the new entity, called Beko Europe B.V., and Arcelik owns 75 percent. Whirlpool also completed its sale of the company's Middle East and North Africa business to Arçelik. Holger Gottstein and Gilles Morel, two members of Whirlpool Executive Committee, will be appointed to the board of directors of Beko Europe B.V.

Whirlpool Corporation said the company will focus on its strong positions in the Americas and India. Whirlpool is retaining ownership of InSinkErator and its EMEA KitchenAid small and major domestic appliance business.