Turkish home appliance manufacturer Arcelik has signed an agreement with the American company Whirlpool to acquire its Russian assets in the form of Indesit International JSC and Whirlpool Rus LLC. This is stated in a statement issued by the company on Tuesday.
It is noted that the amount of the transaction cannot exceed the "upper limit, which is estimated at 220 million euros." “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, the Indesit and Hotpoint brands will be used in the above countries.