{"id":892,"date":"2021-09-27T20:06:00","date_gmt":"2021-09-27T20:06:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3520361_AE20361_0"},"modified":"2021-09-27T20:06:00","modified_gmt":"2021-09-27T20:06:00","slug":"whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=892","title":{"rendered":"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/en.prnasia.com\/prnasia.com-PC\/images\/logo-en-blue-in.png\" class=\"ff-og-image-inserted\"><\/div>\n<p>GURUGRAM, <span class=\"xn-location\">India<\/span>, <span class=\"xn-chron\">Sept. 28, 2021<\/span> \/PRNewswire\/ &#8212;&nbsp;Whirlpool of India Ltd. (NSE: <span id=\"spanHghlt2031\">WHR<\/span>; BSE: 500238) today announced that it has entered into a share purchase agreement with Elica S.p.A (MTA: ELC) to acquire an additional stake in Elica PB India.&nbsp; Elica PB India will become a majority-owned subsidiary of Whirlpool India and its financial statements will be consolidated within Whirlpool India. The transaction is expected to close by the end of September 2021.&nbsp; Both organizations will continue to run their operations similar to their current state.<\/p>\n<p>Whirlpool <span class=\"xn-location\">India<\/span> currently owns a 49% stake in the Elica PB India Private Limited and will acquire an additional ~38% equity interest for <span class=\"xn-money\">~US$57 million<\/span> to bring its total equity ownership to ~87%. Whirlpool <span class=\"xn-location\">India<\/span> initially acquired a 49% equity interest in Elica PB India in 2018.<\/p>\n<p>&#8220;We are very excited about this transaction and it aligned with our ambition to accelerate profitable growth in <span class=\"xn-location\">India<\/span>,&#8221; said <span class=\"xn-person\">Vishal Bhola<\/span>, Managing Director, Whirlpool India. &#8220;Cooking and built-in appliances are under-penetrated categories and the demand has now accelerated with consumers picking up cooking as a passion and investing more in their kitchens. Our consumers have always been at the heart of our business and now with both Elica and Whirlpool brands, we are in an even better position to improve life at home for them.&#8221;<\/p>\n<p>Speaking about the transaction, <span class=\"xn-person\">Pralhad Bhutada<\/span>, CEO and Director of Elica PB India said, &#8220;Over the last decade, Elica PB India has built a very strong product portfolio and distribution network in <span class=\"xn-location\">India<\/span>, which it has been harnessing for the last three years to build both the Elica and Whirlpool brands in the cooking category. I am confident that with our continued relationship, we will offer consumers a more comprehensive range of innovative, premium cooking solutions for both brands.&#8221;<\/p>\n<p>Whirlpool is an iconic brand and one of the industry leaders in laundry and refrigeration in India.&nbsp; Elica is renowned for its attention to aesthetics, innovation and quality in product development and diverse insights of consumers&#8217; cooking needs.&nbsp; Since the beginning of the joint venture, Elica PB India also brought their strong distribution network and made Whirlpool cooking products widely accessible in the marketplace.&nbsp; Together Whirlpool India and Elica PB India create value and synergy offering relevant cooking and built-in solutions to make consumers&#8217; lives easier and they can spend more time taking care of their families.<\/p>\n<p>#whirlpoolindia #everydaycare #elicapbindia&nbsp; #improvinglivesathome&nbsp; #kitchenappliances <\/p>\n<p><b><i>About Whirlpool India<\/i><\/b><\/p>\n<p><i>Whirlpool of India Limited headquartered in Gurugram, is one of the leading manufacturers and marketers of major home appliances in the country. Whirlpool entered <span class=\"xn-location\">India<\/span> in the late 1980s as part of its global expansion strategy and presently owns three state-of-the-art manufacturing facilities at Faridabad, Pondicherry and <span class=\"xn-location\">Pune<\/span>. Each of the manufacturing set-up features an infrastructure that is witness of Whirlpool&#8217;s commitment to providing its consumers with forward-looking solutions. Additional information about the Company can be found at <a target=\"_blank\" href=\"https:\/\/www.whirlpoolindia.com\/\" rel=\"nofollow noopener\">https:\/\/www.whirlpoolindia.com<\/a> <\/i><\/p>\n<p><b><i>About Elica PB India Private Limited<\/i><\/b><\/p>\n<p><i>Elica SpA formed a joint venture, Elica PB India Private Limited in <span class=\"xn-location\">India<\/span>, in 2010. The manufacturing unit in <span class=\"xn-location\">India<\/span> is located in <span class=\"xn-location\">Pune<\/span>, Maharashtra. The manufacturing plant is well-equipped with machinery, automated assembly lines and equipment imported from <span class=\"xn-location\">Italy<\/span>. Each process of manufacturing receives technical assistance from <span class=\"xn-location\">Italy<\/span>, with a manufacturing capacity to produce diverse models of kitchen hoods, hobs and cooktops.<\/i><\/p>\n<p><b><i>Whirlpool Corporation Additional Information<\/i><\/b><\/p>\n<p><i>This press release contains forward-looking statements about Whirlpool that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include, but are not limited to, statements regarding growth and brand leadership in India.&nbsp; Many risks, contingencies and uncertainties could cause actual results to differ materially from Whirlpool&#8217;s forward-looking statements.&nbsp; Additional information concerning these risks, contingencies, uncertainties and other factors can be found in Whirlpool Corporation&#8217;s filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K.<\/i><\/p>\n<p><i>Additional information concerning these risks, contingencies, uncertainties and other factors can be found in Whirlpool of <span class=\"xn-location\">India&#8217;s<\/span> filings with the Securities and Exchange Board of <span class=\"xn-location\">India<\/span>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GURUGRAM, India, Sept. 28, 2021 \/PRNewswire\/ &#8212;&nbsp;Whirlpool of India Ltd. (NSE: WHR; BSE: 500238) today announced that it has entered into a share purchase agreement with Elica S.p.A (MTA: ELC) to acquire an additional stake in Elica PB India.&nbsp; Elica PB India will become a majority-owned subsidiary of Whirlpool India and its financial statements will [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":893,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=892\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India - My Blog\" \/>\n<meta property=\"og:description\" content=\"GURUGRAM, India, Sept. 28, 2021 \/PRNewswire\/ &#8212;&nbsp;Whirlpool of India Ltd. (NSE: WHR; BSE: 500238) today announced that it has entered into a share purchase agreement with Elica S.p.A (MTA: ELC) to acquire an additional stake in Elica PB India.&nbsp; Elica PB India will become a majority-owned subsidiary of Whirlpool India and its financial statements will [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/transmediavictoria.net.au\/?p=892\" \/>\n<meta property=\"og:site_name\" content=\"My Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-27T20:06:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/09\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png\" \/>\n\t<meta property=\"og:image:width\" content=\"200\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin_tony\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_tony\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892\"},\"author\":{\"name\":\"admin_tony\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"headline\":\"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India\",\"datePublished\":\"2021-09-27T20:06:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892\"},\"wordCount\":701,\"image\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/transmediavictoria.net.au\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png\",\"articleSection\":[\"Business News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892\",\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892\",\"name\":\"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India - My Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/transmediavictoria.net.au\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png\",\"datePublished\":\"2021-09-27T20:06:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892#primaryimage\",\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png\",\"contentUrl\":\"https:\\\/\\\/transmediavictoria.net.au\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png\",\"width\":200,\"height\":200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=892#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/transmediavictoria.net.au\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#website\",\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/\",\"name\":\"My Blog\",\"description\":\"My WordPress Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\",\"name\":\"admin_tony\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g\",\"caption\":\"admin_tony\"},\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?author=8\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India - My Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/transmediavictoria.net.au\/?p=892","og_locale":"en_US","og_type":"article","og_title":"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India - My Blog","og_description":"GURUGRAM, India, Sept. 28, 2021 \/PRNewswire\/ &#8212;&nbsp;Whirlpool of India Ltd. (NSE: WHR; BSE: 500238) today announced that it has entered into a share purchase agreement with Elica S.p.A (MTA: ELC) to acquire an additional stake in Elica PB India.&nbsp; Elica PB India will become a majority-owned subsidiary of Whirlpool India and its financial statements will [&hellip;]","og_url":"https:\/\/transmediavictoria.net.au\/?p=892","og_site_name":"My Blog","article_published_time":"2021-09-27T20:06:00+00:00","og_image":[{"width":200,"height":200,"url":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/09\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png","type":"image\/png"}],"author":"admin_tony","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin_tony","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/transmediavictoria.net.au\/?p=892#article","isPartOf":{"@id":"https:\/\/transmediavictoria.net.au\/?p=892"},"author":{"name":"admin_tony","@id":"https:\/\/transmediavictoria.net.au\/#\/schema\/person\/5b51d407d652c0aa802bea269ea5d7e7"},"headline":"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India","datePublished":"2021-09-27T20:06:00+00:00","mainEntityOfPage":{"@id":"https:\/\/transmediavictoria.net.au\/?p=892"},"wordCount":701,"image":{"@id":"https:\/\/transmediavictoria.net.au\/?p=892#primaryimage"},"thumbnailUrl":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/09\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png","articleSection":["Business News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/transmediavictoria.net.au\/?p=892","url":"https:\/\/transmediavictoria.net.au\/?p=892","name":"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India - My Blog","isPartOf":{"@id":"https:\/\/transmediavictoria.net.au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/transmediavictoria.net.au\/?p=892#primaryimage"},"image":{"@id":"https:\/\/transmediavictoria.net.au\/?p=892#primaryimage"},"thumbnailUrl":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/09\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png","datePublished":"2021-09-27T20:06:00+00:00","author":{"@id":"https:\/\/transmediavictoria.net.au\/#\/schema\/person\/5b51d407d652c0aa802bea269ea5d7e7"},"breadcrumb":{"@id":"https:\/\/transmediavictoria.net.au\/?p=892#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/transmediavictoria.net.au\/?p=892"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/transmediavictoria.net.au\/?p=892#primaryimage","url":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/09\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png","contentUrl":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/09\/whirlpool-india-enters-into-agreements-to-acquire-majority-stake-of-elica-pb-india.png","width":200,"height":200},{"@type":"BreadcrumbList","@id":"https:\/\/transmediavictoria.net.au\/?p=892#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/transmediavictoria.net.au\/"},{"@type":"ListItem","position":2,"name":"Whirlpool India Enters into Agreements to Acquire Majority Stake of Elica PB India"}]},{"@type":"WebSite","@id":"https:\/\/transmediavictoria.net.au\/#website","url":"https:\/\/transmediavictoria.net.au\/","name":"My Blog","description":"My WordPress Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/transmediavictoria.net.au\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/transmediavictoria.net.au\/#\/schema\/person\/5b51d407d652c0aa802bea269ea5d7e7","name":"admin_tony","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g","caption":"admin_tony"},"url":"https:\/\/transmediavictoria.net.au\/?author=8"}]}},"_links":{"self":[{"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=\/wp\/v2\/posts\/892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=892"}],"version-history":[{"count":0,"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=\/wp\/v2\/posts\/892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=\/wp\/v2\/media\/893"}],"wp:attachment":[{"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/transmediavictoria.net.au\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}