Iconic but lossmaking Italian
home-appliance maker Indesit is to fall into US hands after
Whirlpool reached a deal with the controlling Merloni family.
The American giant will acquire 60.4% of the Marche-base
company for 758 million euros.
This will give it 66.8% of voting rights and it will
subsequently launch an initial public offering for the rest.
Indesit, which makes Hotpoint and other top brands, has
been in trouble for several years and recently had to lay off
more than a thousand workers.
Its shares rose 3% on news of the deal.
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