The facts in this briefing are sourced from an SEC EDGAR Form 8-K filed and published on January 17, 2023. The transaction's current status is pending regulatory review.
Only one financial advisor is named in the facts block: Perella Weinberg Partners LP is serving as financial advisor to the company, Whirlpool Corporation, in a lead capacity. The source sentence specifies this engagement relates to the strategic review of the EMEA business, indicating the advisory mandate was part of a broader strategic review process that led to this joint venture contribution agreement.
Legal counsel is also tied to Whirlpool's side: Latham & Watkins LLP and Cleary Gottlieb Steen & Hamilton LLP are both serving as legal advisors to Whirlpool Corporation in connection with the same strategic review of the EMEA business. No legal advisor is named for Arcelik A.S. in the facts block.
As a joint venture contribution agreement, this transaction involves Whirlpool contributing its European MDA business into a joint venture structure, implicitly with Arcelik A.S. as the counterparty given the deal name, but the facts block does not specify the respective ownership stakes in the resulting joint venture, any cash contributions alongside the business contribution, or governance terms.
Several material facts remain undisclosed. The transaction's dollar value is explicitly stated as not disclosed in the source document. No financial or legal advisor is named for Arcelik A.S., the joint venture counterparty. No expected closing date is given, and the respective ownership split in the resulting joint venture is not disclosed.