Whirlpool Corporation announced that talks to sell its India unit to private‑equity firm Advent International collapsed on December 6, 2025, after the parties could not agree on a valuation. The deal, which had been valued at up to $1 billion, would have provided Whirlpool with a significant cash infusion and helped the company accelerate debt repayment and portfolio simplification.
The breakdown stemmed from a valuation disagreement. Advent sought a lower price, citing market challenges in India, including intense competition from local and global players and stricter regulatory requirements that could compress margins. Whirlpool, meanwhile, expected a higher valuation that reflected the unit’s 16% revenue growth to $880.53 million in the year to March 2025 and its strategic importance in a high‑growth market.
Whirlpool’s management explained that the India unit remains a key growth engine, especially as the company seeks to balance its portfolio between high‑margin North American operations and emerging markets. CEO Marc Bitzer noted that the company had previously sold a 24.7% stake in Whirlpool of India in February 2024 for $468 million, reducing its ownership from 75% to 51%. The failed sale means Whirlpool will retain full control of the unit and forgo the $1 billion proceeds that were earmarked for debt reduction.
The loss of the expected cash flow has implications for Whirlpool’s financial strategy. The company had planned to pay down approximately $700 million of debt in 2025, and the $1 billion infusion would have accelerated that plan. With the deal off the table, Whirlpool must seek alternative financing or adjust its debt‑repayment schedule, potentially affecting its credit profile and cost of capital.
Whirlpool’s broader financial performance underscores the significance of the deal’s collapse. In Q3 2025, the company reported revenue of $4.03 billion, up 4% year‑over‑year, and earnings per share of $2.09, beating analyst expectations of $1.41 by $0.68. However, the company’s net income fell to $73 million from $109 million in the prior year, reflecting margin compression and a lower guidance for the full year. The management’s decision to retain the India unit, while preserving a growth platform, also signals a shift toward a more balanced portfolio strategy amid global demand uncertainty.
Analysts have noted that the collapse may delay Whirlpool’s debt‑reduction timeline but also preserve a high‑growth market that could offset margin pressures in other regions. The company’s focus on cost control and strategic investments in core markets remains unchanged, but the inability to divest the India unit adds a layer of complexity to its balance‑sheet management and long‑term capital allocation plans.
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