April 24, 2018 / 7:00 AM / 5 months ago

REFILE-Whirlpool to sell Embraco compressor business to Japan's Nidec

(Corrects spelling of facility in paragraph 3)

April 24 (Reuters) - Whirlpool Corp said on Tuesday it agreed to sell its Embraco compressor business to Japan's Nidec Corp for $1.08 billion in cash.

Whirlpool also said it expects to buy back about $1 billion of shares in the form of a modified Dutch Auction tender offer.

The deal, which does not include its Italy facility, is not expected to have a material impact on Whirlpool's 2018 financial results, it said. (Reporting by Philip George in Bengaluru; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below