Whirlpool Corporation, through its wholly owned subsidiary Whirlpool Italia Holdings S.r.l., acquired a 56% stake in Indesit Company S.p.A. The stake represents 61.9% of the voting stock of Indesit. Indesit is an Italian-based appliance maker.

Whirlpool acquired the shares under two share purchase agreements signed July 10, 2014, with Fineldo S.p.A. and Merloni family members. These acquisitions bring Whirlpool’s total stake in Indesit to 60.4%, representing 66.8% of the voting stock.

Indesit Ukraine LLC, whose operations were about 3% of Indesit’s 2013 revenues, is being held separately pending antitrust clearance by the Ukrainian antitrust authority. This is expected by the end of the year.

“The appliance market in Europe is competitive and increasingly global. This transaction will build our market position and enable sustainable growth in the region,” said Whirlpool Corp. Chairman and CEO Jeff M. Fettig.

Whirlpool Italia Holdings S.r.l. will now take steps to launch a mandatory tender offer for the remainder of Indesit’s outstanding shares, with the intention to delist the company.