April 24, 2018 / 6:58 AM / a year ago

REFILE-Whirlpool to sell Embraco compressor business to Japan's Nidec

(Corrects spelling of facility in paragraph 3)

April 24 (Reuters) - Whirlpool Corp said on Tuesday it agreed to sell its Embraco compressor business to Japan’s Nidec Corp for $1.08 billion in cash.

Whirlpool also said it expects to buy back about $1 billion of shares in the form of a modified Dutch Auction tender offer.

The deal, which does not include its Italy facility, is not expected to have a material impact on Whirlpool’s 2018 financial results, it said. (Reporting by Philip George in Bengaluru; Editing by Gopakumar Warrier)

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