Whirlpool to sell its business in Russia to a Turkish company


June 28, Fineko/abc.az. Turkish company Arcelik has signed an agreement with Whirlpool EMEA S.p.A on the purchase of its assets in Russia – Indesit International and Whirlpool Rus.

ABC.AZ reports that the amount of the transaction will not exceed 220 million euro, its final parameters will depend on several factors, and payments are to be made within 10 years. As a result of the deal, Arcelik will acquire a production facility in Lipetsk with capacity of 2.8 million refrigerators and washing machines per year.

Indesit International and Whirlpool Rus also operate in Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Armenia, Georgia, Azerbaijan, Kazakhstan, Belarus and Mongolia.