Whirlpool of India Limited (BSE:500238) agreed to acquire additional 38.25% stake in Elica PB India Private Ltd. from Elica S.p.A. (BIT:ELC) for INR 4.2 billion on September 27, 2021. The total consideration will be payable in cash. Post completion of the acquisition, Elica India will become a subsidiary of Whirlpool with total ownership of 87.25% stake. Both organizations will continue to run their operations similar to their current state. The Elica India generated a revenue of INR 3.1 billion as of March 31, 2021. Pralhad Bhutada, Chief Executive Officer & Director of Elica India will continue to lead it. The transaction was approved by board of directors of Whirlpool. The transaction is expected to be completed by September 30, 2021.

Whirlpool of India Limited (BSE:500238) completed the acquisition of additional 38.25% stake in Elica PB India Private Ltd. from Elica S.p.A. (BIT:ELC) on September 28, 2021.