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4 years ago
CORRECTED-Whirlpool to buy 51 pct stake in Hefei Sanyo for $552 mln
August 13, 2013 / 10:42 AM / 4 years ago

CORRECTED-Whirlpool to buy 51 pct stake in Hefei Sanyo for $552 mln

1 Min Read

(Corrects U.S. dollar figure from $555 mln to $552 mln in headline and paragraph 1)

Aug 13 (Reuters) - Home appliance maker Whirlpool Corp said its Chinese unit would acquire a 51 percent stake in Hefei Rongshida Sanyo Electric Co Ltd for about 3.4 billion yuan ($552 million).

Whirlpool said it plans to fund the purchase of the Chinese electrical appliances maker with cash on hand or debt. (r.reuters.com/mac42v)

$1 = 6.1223 Chinese yuan Reporting by Rohit T. K. in Bangalore; Editing by Saumyadeb Chakrabarty

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