21.04.2026 09:41
Arçelik signed an agreement to sell its 60% stake in Arçelik Hitachi Home Appliances to Hitachi Global Life Solutions. Under the agreement, $205 million will be paid upfront, and $56 million will be paid within 3 years. With the completion of the sale, 12 subsidiaries along with the production and R&D facilities in China and Thailand will be transferred. The transaction will be completed within 12 months, subject to the approval of competition authorities.
Arçelik signed a share purchase agreement for the sale of its 60% stake in Arçelik Hitachi Home Appliances B.V. to its partner Hitachi Global Life Solutions. The company announced the development through a statement made to the Public Disclosure Platform (KAP).
261 MILLION DOLLAR DEAL
According to the statement, a cash payment of 205 million dollars will be made at closing. In addition, a total of 56 million dollars in deferred payments will be received within 3 years from the closing date. Additional adjustments to the payment amount may also be made depending on the cash position at the closing date.
NOJIMA DETAIL CAUGHT ATTENTION
It was stated that Hitachi plans to restructure its home appliances operations within the framework of a strategic partnership to be established with Nojima Corporation. In this context, it is anticipated that Arçelik Hitachi will ultimately be acquired by a new structure that will be under the indirect control of Nojima.
However, if the processes related to Nojima cannot be completed, it was stated that the shares held by Arçelik would be purchased directly by Hitachi.
APPROVAL PROCESSES ARE AWAITED
The completion of the sale transaction will be subject to various closing conditions, primarily the approvals to be obtained from the competition authorities in the relevant countries. The parties aim to complete the transaction within 12 months following the signing of the agreement.
With the completion of the sale, 12 subsidiaries under Arçelik Hitachi, as well as production and R&D facilities in China and Thailand, will also be transferred. Additionally, the existing joint venture agreement will terminate, and the share purchase options between the parties will become invalid.
The company stated that the previously signed memorandum of understanding was not disclosed to the public due to its non-binding nature, and that information was provided after the signing of the final agreement.