Friday, February 28, 2025 | 08:00 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Whirlpool sells 24% stake in India unit for $468 mn, now holds 51%

Whirlpool conducted the sale through its subsidiary in Mauritius, reducing its stake in the entity from 75% to 51%

Whirlpool

Reuters

Listen to This Article

Whirlpool said on Tuesday it has executed a sale of 24% of its stake in its India unit for about $468 million.

Whirlpool conducted the sale through its subsidiary in Mauritius, reducing its stake in the entity from 75% to 51%.

The company expects the settlement of the share sale to occur on Wednesday and plans to use the proceeds to reduce its debt.

The sale was first reported by Reuters on Monday. Goldman Sachs is advising the company on the deal, the report said citing a term sheet.

(Reporting by Shivansh Tiwary in Bengaluru; Editing by Shilpi Majumdar)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 20 2024 | 5:58 PM IST

Explore News