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Whirlpool plans to sell 24 per cent ownership in India biz
The Business Guardian
|December 01, 2023
In a recent regulatory filing, leading American home appliances manufacturer, Whirlpool Corporation, has revealed its intention to sell up to a 24% stake in its Indian subsidiary, Whirlpool of India Ltd, in 2024. The move is part of the company's strategic initiative to raise funds for debt reduction and enhance its overall financial standing.
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The regulatory filing, shared on the Bombay Stock Exchange (BSE) by Whirlpool of India, stated that on November 30, 2023, Whirlpool Corporation officially announced its plan to engage in one or more transactions to divest up to 24% of its ownership interest in Whirlpool of India Ltd next year. The company highlighted its commitment to maintaining a 75% ownership interest in Whirlpool India through a wholly-owned subsidiary even after the completion of the intended transactions.
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