Whirlpool buy Chinese home appliance manufacturer RongShiDa hefei sanyo electric appliance co., LTD., a majority stake for about $552 million.
Whirlpool company, its brands include mattel, the same name, said on Tuesday that the deal will help it expand in China.
Hefei sanyo with 2012 revenue of $636 million. Its brands including sanyo and Diqua. The company is a joint venture, the original hefei RongShiDa group co., LTD and sanyo electric co., LTD., sanyo electric (China) co., LTD., between the subsidiary of panasonic
The deal, which gave a 51% stake in the whirlpool in hefei sanyo, is expected to close by the end of 2014. It still needs regulatory approval in China, hefei sanyo shareholder approval.
Whirlpool, based in Michigan benton harbor, about $1.8 billion in sales in 2012.



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