Consumer durables major, Whirlpool India has announced the acquisition of 49% stake in Elica PB India, subsidiary of Elica SpA Italy for an estimated Rs 162 crores ($23.6m) in an all cash deal, as reported by The Economic Times and Mint. The deal is expected to close in the second half of 2018 and as a part of a strategic joint-venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India.
Talwar Thakore & Associates acted as the Indian legal counsel to
Linklaters acted as the international legal advisor to
DSK Legal represented as the Indian legal advisor to
Nishith Desai Associates acted as the Indian legal counsel to
Italy-based firm Sabelli Benazzo was the international legal advisor.
Operating in India since 2010, Elica PB India makes kitchen hoods, built-in hobs and cooktops. The current acquisition is a part of Whirlpool’s strategy to strengthen its presence in the cooking and built-in appliance segment.
2018-06-01
threads most popular
thread most upvoted
comment newest
first oldest
first
threads most popular
thread most upvoted
comment newest
first oldest
first