Whirlpool has finally resolved the issue regarding its Russian operations
The American company Whirlpool has finally drawn a line under its business operations in Russia. Following new agreements with Turkey’s Arçelik, the home appliance manufacturer will receive a one-time payment of 40 million euros, and all other financial obligations between the parties will be canceled.
The American home appliance manufacturer Whirlpool is finally resolving the issues related to its former assets in Russia. Arçelik, which acquired Whirlpool’s Russian business back in 2022, has agreed to make a one-time payment of 40 million euros. Following this, Whirlpool will waive any current and future claims under this agreement.
The assets in question included Indesit International JSC and Whirlpool RUS LLC. Following the change in ownership, they were merged into a single entity—IHP Appliances LLC. The initial terms of the sale were significantly more complex. The value of the deal was to be determined over a ten-year period following its closing. The amount of payments depended on financial results, as well as on a number of additional conditions.
However, the parties decided to simplify the payment mechanism. Now, Arçelik will pay a fixed amount of 40 million euros, and Whirlpool will no longer have any financial claims regarding the sold Russian business. As of the end of March 2026, the Turkish company had recorded long-term liabilities under this agreement amounting to approximately 6 billion Turkish lira. At the exchange rate at that time, this corresponded to approximately 117 million euros.
Thus, the new agreements have made it possible to significantly reduce the amount of future payments. In fact, the final settlement turned out to be nearly three times smaller than previously anticipated. All procedures are expected to be completed by the end of June. To this end, the parties must fulfill the standard conditions for closing the deal.
Thus, Whirlpool is finally ending its presence in the Russian market. The company had already left Russia shortly after the start of the full-scale war, and the current deal puts an end to the long-standing process of exiting the country. This information is reported with reference to Arçelik’s disclosure in the regulatory filing system.
EU antitrust regulators have approved a proposal by Turkish home appliance manufacturer Arçelik to acquire the European business of the American company Whirlpool.
