Page 47 - Arçelik PR REPORT - APRIL 2024

4/18/24, 11:47 AM Arçelik Completes Acquisition of Whirlpool's Moroccan and UAE Subsidiaries - Middle East News 247

Akın Garzanlı, Chief Marketing Officer and Chief Customer Officer of MEA, Russia & CIS, expressed
his excitement and confidence regarding the transaction, stating: “I am delighted to witness the successful

completion of our strategic move to acquire Whirlpool’s MENA operations. Arçelik is a leading global
company in the home appliance industry with 55,000 employees and 45 production facilities. Soon, it will be
adding a state-of-the-art factory in Egypt, which stands on the cusp of operation, ready to bring innovation

and excellence to the market. With this new integration, we are inching closer to our ambition to become the
number one home appliances company in the region. We reaffirm our dedication to delivering top-tier
products to MENA consumers, emphasising quality, durability, and sustainability. We will continue to prioritise

the well-being of both the planet and its people, and remain attentive to the needs of our consumers,
communities, and employees as we continue to grow and evolve sustainably.”

On the April 2, 2024, Arçelik announced the successful completion of the definitive Contribution Agreement
between Arçelik’s wholly owned subsidiary Beko B.V. and Whirlpool Corporation’s wholly owned subsidiary

Whirlpool EMEA Holdings LLC, resulting in the creation of Beko Europe. Beko Europe’s 75 per cent shares
are owned by Beko B.V and 25 per cent of shares are owned by Whirlpool Corporation. Arçelik, having
accomplished these two significant milestones, will continue revolutionising the industry, driving innovation,

and delivering value to consumers worldwide.

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