Cleary Gottlieb is acting as antitrust counsel to Whirlpool Corporation in the sale of its Embraco refrigeration compressors business to Nidec Corporation for $1.08 billion.
The transaction was announced on April 24, 2018, and is expected to close in early 2019 following the receipt of regulatory approvals.
Whirlpool Corporation is a leading home appliance manufacturer with its headquarters in Benton Harbor, Michigan. Embraco, headquartered in Joinville, Brazil, is a leading global supplier of hermetic compressors for refrigeration. Nidec Corporation, headquartered in Kyoto, Japan, is a leading comprehensive motor manufacturer for a range of applications worldwide.