EU clears Whirlpool to buy German kitchen maker Alno

BRUSSELS Tue Nov 20, 2012 10:52am GMT

A worker walks out of the Whirlpool plant at the end of his shift in Evansville, Indiana November 23, 2009. REUTERS/Brian Snyder

A worker walks out of the Whirlpool plant at the end of his shift in Evansville, Indiana November 23, 2009.

Credit: Reuters/Brian Snyder

Related Topics

Quotes

   

BRUSSELS (Reuters) - Appliance maker Whirlpool (WHR.N) secured EU regulatory approval on Tuesday to acquire a controlling stake in Germany's second-largest largest kitchen manufacturer Alno (ANOG.DE).

The European Commission, which acts as the competition watchdog in the 27-member bloc, said market analysis had shown there was sufficient competition in the markets for kitchen furniture and domestic appliances.

"Customers could easily switch their purchases of kitchen appliance to one of Whirlpool's competitors as an alternative source of supply," the EU executive said in a statement.

Whirlpool, the world's biggest appliance maker, which already owned a 18.8 percent share of Alno, said in July it planned to buy all shares that could not be placed with other investors in a 46 million euro ($59 million) capital raising. ($1 = 0.7803 euros)

(Reporting by Robert-Jan Bartunek and Foo Yun Chee; editing by Rex Merrifield)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.