Hitachi to sell overseas home appliance biz to Turkey's Arcelik: Report

Japan's Hitachi Ltd plans to sell a 60% stake in its overseas home appliance business to Turkish consumer electronics maker Arcelik AS for about $300 million, and jointly operate the business, the Nikkei newspaper said on Sunday.

The Japanese industrial conglomerate aims to improve profit via the deal with the Turkish company--which has a business network in Europe and Africa--by expanding sales of its Hitachi-brand appliances, the paper said without citing sources. The overseas business of Hitachi Global Life Solutions Inc,.....

This article is no longer available in our repository.

There could be multiple reasons for this.