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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