Arçelik to form joint venture with Hitachi GLS for global home appliances

Arçelik A.Ş. signed a share purchase agreement to acquire 60% ownership in a new joint venture company that will hold Hitachi Global Life Solutions' global home appliances business outside Japan. The transaction value is $300 million on a cash-free and debt-free basis, with closing expected in spring 2021.

“Arçelik will acquire 60% ownership in the new company, which both partners aim to establish in the spring of 2021, subject to regulatory approvals.”arcelikglobal.com

• 1 source
• arcelikglobal.comArçelik and Hitachi Global Life Solutions Announce their Intention to Form a Joint Venture in the Global Home Appliances Business (excluding Japan)Dec 16, 2020

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