Advent’s $1-bn deal talks for Whirlpool India stake collapse

GLOBAL PRIVATE EQUITY firm Advent International’s talks to acquire US giant Whirlpool’s India unit for up to $1 billion have collapsed due to disagreements over valuation, four people familiar with the matter told Reuters.

- REUTERS

Advent had emerged as the frontrunner to acquire a 31% stake in Whirlpool of India from its Michigan-based parent, Whirlpool Corp, which would have triggered a mandatory open offer to acquire a majority stake, the sources said.