Advent and Whirlpool's stake sale talks collapse due to valuation issues, impacting Whirlpool of India.
Summary
Talks between Advent International and Whirlpool Corp to sell a 31% stake in Whirlpool of India failed due to valuation disagreements. The deal's collapse highlights challenges in the Indian market and potential impacts on company ownership and financial strategies.
Key Points
- Advent International and Whirlpool Corp failed to reach an agreement on the sale of a 31% stake in Whirlpool of India.
- The deal collapsed due to valuation differences.
- Advent cited regulatory headwinds as a reason for seeking a lower price.
- Whirlpool aimed to use the funds to repay debt.
- Whirlpool of India reported 16% revenue growth in FY24.
Full Article
Acquisition talks between Advent International and Whirlpool Corp to sell a 31% stake in Whirlpool of India have collapsed over valuation differences. Advent reportedly sought a lower price, citing regulatory headwinds, while Whirlpool aimed to raise funds to repay debt. The failed deal would have significantly altered ownership. Whirlpool of India reported 16% FY24 revenue growth but faces intense competition.