1 / 2

Whirlpool India Looks to Expand Portfolio, To Acquire 49% Stake in Elica PB

Read more about Whirlpool India looks to expand portfolio, to acquire 49% stake in Elica PB on Business Standard. Elica PB India is a subsidiary of Elica SpA Italy and has been operating in India since 2010

priya32438
Download Presentation

Whirlpool India Looks to Expand Portfolio, To Acquire 49% Stake in Elica PB

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Whirlpool India looks to expand portfolio, to acquire 49% stake in Elica PB Whirlpool India on Saturday said its board has approved a proposal to enter into a strategic joint venture with Elica and acquire 49 per cent equity in Elica PB India Pvt. This, it said is in line with the strategic priority for Whirlpool India to expand the cooking and built-in appliance portfolio. "As part of the joint venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India," Whirlpool said in a filing to stock exchanges.

  2. However, the statement did not disclose financial details of the transaction. The parties expect the transaction to close in the second half of 2018. Elica PB India is a subsidiary of Elica SpA Italy and has been operating in India since 2010. The cooking and built-in appliance space is poised for very strong growth in India based on increasing consumer demand," said Sunil D'Souza, Managing Director of Whirlpool India. Speaking about the joint venture, Pralhad Bhutada, CEO of Elica PB India said that with the addition of Whirlpool brand's products, "We will be offering two very appealing appliance brands to the Indian consumers and we are confident that we can take both these brands to greater heights". Whirlpool presently owns three manufacturing facilities at Faridabad, Puducherry and Pune. Article By : Business Standard

More Related