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Whirlpool To Buy 51% Stake in Hefei Sanyo (WHR)

By Warren Paige

Home appliances maker, Whirlpool Corp. (NYSE: WHR) said on Tuesday that it has agreed to buy a majority stake in China’s Hefei Rongshida Sanyo Electric Co in deal estimated at about $555.4 million. The move will allow the Company to gain traction in China.

Whirlpool said that its will purchase all Hefei Sanyo shares both from Sanyo Electric Co. and Sanyo Electric Co. (China) Ltd. After the transaction is completed, Whirlpool will hold a 51% stake in Hefei Sanyo.

Whirlpool, which is the world’s largest home appliances maker, posted better-than-expected fiscal second quarter results in July, as the sales soared 75% due to improved demand for its products from across all geographic segments.

August 13th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.