Norton Rose Fulbright advises Arçelik in acquisition of Whirlpool Beyaz Esya Sanayi ve Ticaret AŞ
Posted in Corporate, M&A and securities
Global law firm Norton Rose Fulbright has advised leading Turkish white goods manufacturer Arçelik in its €78.3 million acquisition of Whirlpool Beyaz Esya Sanayi ve Ticaret AŞ, Whirlpool's wholly owned subsidiary in Turkey.
Arçelik plans to export to Whirlpool's branches in Europe for the next three years from these facilities, which have an annual production capacity of 2.7 million units.
The transaction, which is subject to regulatory approval and other customary closing conditions, is anticipated to be completed by July 1, 2021.
Ayşe Yüksel Mahfoud, Global Head Corporate, M&A and Securities, Norton Rose Fulbright, said:
"We at Norton Rose Fulbright are very pleased to be assisting longtime client Arçelik meet its strategic goals through this acquisition. We are seeing a lot of activity in the M&A market in Turkey in 2021 and anticipate an uptick in activity by domestic as well as international buyers."
The Norton Rose Fulbright's Istanbul-based team included Ayşe Yüksel Mahfoud, Ekin İnal, Alper Tüzün, Mert Müstecaplıoğlu and Cem Tecimer.