Arcelik, Whirlpool Deal Cleared by U.K. Competition Regulator

By Michael Susin

The U.K. competition watchdog said a deal between domestic appliance companies Arcelik and Whirlpool deal can go ahead because it isn't expected to harm competition.

In July, the Competition and Markets Authority launched a probe into Turkish company Arcelik's planned acquisition of Whirlpool's domestic appliance business in Europe, the Middle East and Africa.

The CMA said Thursday that despite both groups having robust market positions, they still continue to face significant competition from other suppliers.

The competitive landscape has changed considerably in recent years and continues to do so, with a significant decline of Whirlpool's market position in major domestic appliances, the CMA said.

"We found that the deal may not be expected to harm competition, with shoppers continuing to benefit from a wide range of options," the CMA's Martin Coleman said.

Write to Michael Susin at [e-mail]

(END) Dow Jones Newswires

03-07-24 0303ET