Whirlpool of India has received approval from board of directors for acquisition of further 9.56% of the issued and paid up share capital of the Company’s subsidiary -- Elica PB Whirlpool Kitchen Appliances and accordingly the Company has executed a share purchase agreement in this regard. Post completion of the acquisition, the Company would hold around 96.81% shares of the Subsidiary.
The investment is aligned with the Company’s long term outlook for growth opportunities in cooking and built-in business. A consideration of Rs 167 crore is payable by the Company for acquisition of additional shareholding.
Whirlpool of India is a part of the world’s renowned Whirlpool Group of Companies and one of the leading manufacturers and marketers of major home appliances in the country.
