Investor AB, the powerful Swedish holding company behind Electrolux and other industrial giants, is backing EQT in a potential takeover of Whirlpool India. While EQT remains the only serious bidder, Whirlpool CEO Marc Bitzer is asking $550–600 million for a 31% stake—an amount that led Bain Capital to walk away.

Despite interest, Whirlpool India faces stiff competition from Chinese and Japanese-Korean brands and lacks presence in premium segments. Tariff protections haven’t delivered results, adding pressure to the deal.

Electrolux may not be changing hands just yet—but the appliance sector is clearly heating up.