UK allows Domestic Appliance Cos. Arçelik and Whirlpool merger

The United Kingdom’s Competition and Markets Authority, after conducting an in-depth inquiry into the Arçelik and Whirlpool – two largest manufacturers of in the “major domestic appliance” segment in the UK, noting that there exists enough competitive constraints from Bosch, Haier Group, Samsung, LG, HiSense & other private label brands, has allowed the deal go through. As per the agreement, Arçelik will set up a new standalone business, Beko Europe B.V. with Arçelik and Whirlpool holding 75% & 25% shares, respectively.