EU antitrust regulators cleared Turkish domestic appliances business

EU antitrust regulators have cleared Turkish domestic appliances maker Arcelik's proposed purchase of Whirlpool's European domestic appliances business, a European Commission filing showed on Tuesday, Azernews reports.

"The Commission concluded that the transaction would not raise competition concerns given in particular the presence of alternative suppliers in the European Economic Area countries where both parties are active," the European Commission said in a statement.

Under the deal announced in January, the companies will set up a new entity made up of Arcelik's European units producing major and small domestic appliances as well as consumer electronics with Whirlpool's European business.

Arcelik will own 75% of the company and Whirlpool the remaining 25%.