# 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.

- Type: Acquisition
- Announced: 2020-12-16
- Value: $300.0M
- Status: announced
- Products: home appliances, refrigerators, washing machines, vacuum cleaners

## Companies

- [Arçelik Group](https://endata.com/companies/20689.md) (acquirer)
- [Hitachi Global Life Solutions](https://endata.com/companies/51917.md) (target)

## Sources

- [arcelikglobal.com](https://www.arcelikglobal.com/en/company/press-room/press-releases/arcelik-and-hitachi-global-life-solutions-announce-their-intention-to-form-a-joi/), 2020-12-16: "Arçelik will acquire 60% ownership in the new company, which both partners aim to establish in the spring of 2021, subject to regulatory approvals."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.