Whirlpool India has received approval to enter into a strategic joint venture (JV) with Elica PB India and acquire 49% equity in the company. As part of the JV, Elica PB will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India. The meeting of the Board of Directors of the company held on June 1, 2018, have approved the same.
Elica PB is a subsidiary of Elica, SpA in Italy and has been operating in India since 2010. Both the parties expect the transaction to close in the second half of 2018.
Whirlpool of India manufactures appliances. The company produces refrigerators, washing machines, air conditioners, microwave ovens, water purifiers, built-in appliances and other products.
Company Name | CMP |
---|---|
Crompt.Greaves Cons. | 339.60 |
Whirlpool Of India | 1421.45 |
Bajaj Electricals | 927.15 |
IFB Industries | 1391.00 |
TTK Prestige | 690.00 |
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