Turkish home appliance manufacturer Arcelik signed an agreement with Whirlpool to acquire its Russian assets in the form of Indesit International JSC and Whirlpool Rus LLC, the company said on Tuesday.
It was noted that the amount of the transaction cannot surpass the upper limit, which is estimated at about 220 mln euro.
According to the statement, both companies operate in Russia, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Armenia, Georgia, Azerbaijan, Kazakhstan, Belarus, and Mongolia. In addition to the Stinol brand, which will be transferred along with the acquired companies, Indesit and Hotpoint brands will be used in the mentioned countries.
