Whirlpool Mauritius Reduces Ownership In Whirlpool India To 51% - Quick Facts

(RTTNews) - Whirlpool Corp. (WHR) said its subsidiary, Whirlpool Mauritius, has executed the sale of 30.4 million equity shares of Whirlpool India via an on-market trade. The transaction reduces seller's ownership in Whirlpool India from 75% to 51%, and will generate gross sales proceeds of approximately $468 million. Whirlpool Corporation expects to use transaction proceeds to reduce debt. The company expects settlement of the share sale to occur on February 21, 2024.

On November 30, 2023, Whirlpool Corporation announced its intention to enter into one or more transactions to sell up to 24% of the outstanding shares of Whirlpool India in 2024.