Whirlpool Corporation Sells $1.08 Billion Embraco Business to Nidec Corporation
April 24, 2018
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.