Arçelik Anonim Sirketi (IBSE:ARCLK) said on December 14, 2020 it is in negotiations with Japanese Hitachi, Ltd. (TSE:6501) to buy a 60% stake in the conglomerate's overseas white goods business for $300 million (€246.7 million). Discussions are ongoing and no board decision has been taken or binding contract has been signed over a potential deal, Arcelik said in a bourse filing. Arcelik published the announcement following a report by Japanese financial newspaper Nikkei about the potential deal.

Through the transaction, Hitachi aims to expand overseas sales of its brand products and improve profitability, Nikkei reported on December 12, 2020. Arcelik noted in the bourse filing it had initially planned to postpone the announcement for the deal until negotiations are completed.