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Whirlpool of India share price falls 5% on promotor stake sale

Whirlpool of India share price dropped by nearly 5 per cent as its promotor plans to sell a 24 per cent stake worth $451 million through a block deal. The sale will help the company reduce debt and improve its balance sheet.

whirlpool stock update: Whirlpool Corporation sells 24% stake in Indian unit for $468 million via open market

Following the sale, the parent firms holding has come down to 51% from 75%. The American consumer durables maker expects to use the proceeds from the stake sale to reduce debt.

Whirlpool Stake Sale: Whirlpool set to sell 24% stake in Indian unit for up to $451 mln, ET Retail

Whirlpool Stake Sale: Whirlpool plans to sell the stake at Rs 1,230 per share, a 7.6% discount to Monday s closing price. It aims to complete the deal by Wednesday. Goldman Sachs is advising Whirlpool on the deal, the term sheet showed. Goldman and Whirlpool did not immediately respond to requests for comment.

Whirlpool Sells 24% of India Unit, Raising $468 Million

Whirlpool (WHR) Sells 30 4M Shares of Whirlpool India for $468M

Whirlpool (WHR) Sells 30 4M Shares of Whirlpool India for $468M
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