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Advent’s $1bn Whirlpool India deal collapses on valuation differences
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Advent’s $1bn Whirlpool India deal collapses on valuation differences
Global private equity firm Advent International has ended talks to acquire a 31% stake in Whirlpool of India from its US parent, Whirlpool Corp, after failing to reach agreement on pricing, according to a report by Reuters citing unnamed sources familiar with the matter. The acquisition would have triggered a mandatory open offer for an additional 26%, giving Advent a controlling 57% stake and a total deal value of around $1bn. Sources said the …
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