Whirlpool To Sell Up To 24% Of Its Ownership Interest In Whirlpool India - Quick Facts

(RTTNews) - Whirlpool Corp. (WHR) announced its intention to enter into one or more transactions to sell up to 24% of its ownership interest in Whirlpool of India Limited in 2024. The company currently maintains a 75% ownership interest in Whirlpool India through a wholly-owned subsidiary, and intends to retain a majority interest in Whirlpool India. Whirlpool plans to use transaction proceeds to reduce debt levels.

Whirlpool said the proceeds expected to be used for debt repayment are incremental to the $500 million term loan repayment that it previously disclosed it expects to pay in the fourth quarter of 2023.

Whirlpool does not anticipate the announcement to impact its full-year guidance.