European antitrust authorities have approved the proposal of Turkish home appliance manufacturer Arcelik to acquire the European business of the American company Whirlpool. It is reported by Reuters.

"The Commission has concluded that the deal does not pose a threat to competition, given the availability of alternative suppliers in the countries of the European Economic Area where both companies operate," the antitrust regulator said in a statement.

Arcelik (Arçelik A.Ş.) is a leading player in the household appliances market in Turkey. The company was founded in 1954 and is headquartered in Istanbul.

In February 2004, Arcelik's subsidiary Beko Electronic, together with the British Alba Plc, acquired a division of the well-known German company Grundig, which specializes in the production of TVs, Hi-Fi equipment, video, CD and DVD players, and recording devices, for EUR 80 million.

Arcelik manufactures products under the Beko, Blomberg, Arctic, Altus, Grundig, Flavel, Leisure, Zenith and Elektrabregenz brands. The company's plants are located in Turkey, Russia, Romania, South Africa and Germany.

According to the agreement announced in January, the companies will create a new structure that will include Arcelik's European divisions specializing in large and small appliances and consumer electronics together with Whirlpool's European business.

Arcelik will own 75% of the company, while Whirlpool will retain 25%.

In 2014, Whirlpool acquired the Italian company Indesit for 1.1 billion euros.

Whirlpool's plants are located in the United States, Mexico, Brazil, China, Colombia, Poland, Russia, South Africa, Turkey, the United Kingdom, India, Italy, France, and Slovakia. Whirlpool's brands include Ariston, Indesit, Hotpoint, Ignis, Privileg, Bauknecht, Polar and Laden.

On October 11, the British competition regulator announced that it would conduct a thorough investigation of the deal.

If the deal is approved, the newly formed company will become the largest supplier of washers, dryers, dishwashers and kitchen equipment in the UK with an annual turnover of over £3.8 billion (about $4.67 billion).

In 2021, Arcelik bought out Whirlpool's Turkish assets for €78.3 million, and in 2022, the American company sold its Russian subsidiaries, Indesit International JSC and Whirlpool Rus LLC, to Turkish home appliance manufacturer Beko for €220 million.