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EU: Whirlpool cleared to take over Italian peer

 |  October 13, 2014

The world’s largest home appliances manufacturer, Whirlpool, has secured approval from the European Commission to acquire Italian peer Indesit.

The US firm is set to purchase a 60 percent stake in the Italian company for more than $961 million as Whirlpool sets its eyes beyond the US market. According to reports, the Commission did not find evidence the takeover would harm competition.

In a statement, the watchdog said that there are “many” alternative competitors throughout the EU to rival Whirlpool.

Full content: Reuters

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