Deals & Cases
MLL Legal advised Arçelik A.Ş. on the creation of a joint venture with Whirlpool Corporation
On 2 April 2024, Arçelik A.Ş. and Whirlpool Corporation announced the successful completion of the contribution agreement for the creation of Beko Europe B.V., a joint venture with a standalone business in the European home appliances sector.
Beko Europe employs approx. 20,000 employees, has 11 production sites across Europe and is supposed to generate a combined net revenue of approx. EUR 6 billion. Arçelik is the majority shareholder of Beko Europe holding around 75% of the shares in Beko Europe.
Arçelik is a Turkish multinational household appliances manufacturer listed on the Borsa İstanbul, active in more than 100 countries and employing around 55,000 employees. Arçelik is among the three largest white goods companies in Europe based on its market share.
MLL Legal advised Arçelik on all Swiss law aspects of the transaction. The MLL Legal team was co-led by counsel Ülkü Cibik (Head Turkey Desk / Corporate & M&A) and partner Kevin M. Hubacher (Corporate & M&A) and included, among others, Philipp Theiler (Corporate & M&A), Renato Bucher (Competition) as well as Livio Lustenberger (Competition).
Clifford Chance acted as international lead counsel to Arçelik.
