<p>惠而浦在印度因竞争对手的压力而苦苦挣扎</p>
<p>Advent 曾是收购该单位股份的领先者</p>
<p>惠而浦的美国母公司希望减少在印度子公司的股份</p>
<p>Advent 与惠而浦的谈判因估值分歧而失败</p>
<p>作者：Vibhuti Sharma</p>
<p>孟买，12 月 6 日（路透社）——全球私募股权公司 Advent International 与美国巨头惠而浦的谈判，计划以高达 10 亿美元收购其印度子公司，因估值分歧而告吹，四位知情人士向路透社透露。</p>
<p>消息人士称，Advent 曾是收购惠而浦印度（WHIR.NS）31% 股份的领先者，该股份来自其位于密歇根州的母公司惠而浦公司（WHR.N），这将触发强制性公开收购以获得控股权。</p>
<p>在 1 月份，这家美国上市的家电制造商表示，它在印度子公司拥有 51% 的股份，并希望将其减少至约 20%，以偿还其大部分债务，同时进行全球资产的重大重组。当时，它表示出售可获得 5.5 亿至 6 亿美元的净现金收益。</p>
<p>如果 Advent 收购了 31% 的股份，将根据印度法规触发额外 26% 的强制性公开收购，从而获得 57% 的控股权。消息人士称，这将使 Advent 的交易总值达到 10 亿美元。</p>
<p>Advent 拒绝置评，而惠而浦未对路透社的询问作出回应。消息人士因该事项保密而拒绝透露姓名。</p>
<h3>惠而浦面临激烈的印度竞争</h3>
<p>导致交易破裂的部分原因是，Advent 希望降低价格，因为惠而浦在印度面临短期挑战，包括对产品标准和能效规范的更严格监管，谈判中的一位知情人士表示。</p>
<p>惠而浦母公司的 “唯一目标是筹集现金以偿还债务，他们希望的价值更高，” 另一位知情人士表示。</p>
<p>路透社未能立即确定惠而浦的要价以及 Advent 的反报价。</p>
<p>惠而浦在印度已经是家喻户晓的品牌，其 “惠而浦，惠而浦” 的广告曲跨越了几代人。</p>
<p>惠而浦印度的营业收入在截至 3 月的财年中增长了 16%，达到 8.8053 亿美元，但来自 LG 电子印度（LGEL.NS）和三星电子（005930.KS）等竞争对手的压力影响了销售。</p>
<p>Advent 对惠而浦的兴趣标志着其在利润丰厚的印度市场的战略推进，补充了其在该国消费耐用消费品领域的现有投资，包括 Eureka Forbes。</p>
<p>惠而浦印度的股价今年已下跌 47%。</p>

惠而浦

<p>阿德文国际以 10 亿美元收购惠而浦印度子公司 31% 股份的交易因估值分歧而告吹。惠而浦计划将其持股比例从 51% 降至 20% 以偿还债务。阿德文的收购将触发对 57% 控股权的强制性公开报价。由于惠而浦在印度面临竞争和监管压力等挑战，阿德文寻求降低价格，导致交易失败。惠而浦去年的收入增长了 16%，但其股价今年已下跌 47%</p>

<p>Whirlpool in India has struggled due to competition from rivals</p>
<div class="lb-trans"><p>惠而浦在印度因竞争对手的压力而苦苦挣扎</p>
</div><p>Advent was a frontrunner to buy a stake in the unit</p>
<div class="lb-trans"><p>Advent 曾是收购该单位股份的领先者</p>
</div><p>Whirlpool’s US parent wanted to pare its stake in India unit</p>
<div class="lb-trans"><p>惠而浦的美国母公司希望减少在印度子公司的股份</p>
</div><p>Advent-Whirlpool talks failed over disagreement on valuations</p>
<div class="lb-trans"><p>Advent 与惠而浦的谈判因估值分歧而失败</p>
</div><p>By Vibhuti Sharma</p>
<div class="lb-trans"><p>作者：Vibhuti Sharma</p>
</div><p>MUMBAI, Dec 6 (Reuters) - Global private equity firm Advent International’s talks to acquire U.S. giant Whirlpool’s India unit for up to $1 billion have collapsed due to disagreements over valuation, four people familiar with the matter told Reuters.</p>
<div class="lb-trans"><p>孟买，12 月 6 日（路透社）——全球私募股权公司 Advent International 与美国巨头惠而浦的谈判，计划以高达 10 亿美元收购其印度子公司，因估值分歧而告吹，四位知情人士向路透社透露。</p>
</div><p>Advent had emerged as the frontrunner to acquire a 31% stake in Whirlpool of India (WHIR.NS) from its Michigan-based parent, Whirlpool Corp (WHR.N) , which would have triggered a mandatory open offer to acquire a majority stake, the sources said.</p>
<div class="lb-trans"><p>消息人士称，Advent 曾是收购惠而浦印度（WHIR.NS）31% 股份的领先者，该股份来自其位于密歇根州的母公司惠而浦公司（WHR.N），这将触发强制性公开收购以获得控股权。</p>
</div><p>In January, the U.S.-listed home appliance maker said it had a 51% stake in its India unit and wanted to pare that to about 20% to pay off a major chunk of its debt amid a major rejig of its global assets. At the time, it had said it could get net cash proceeds of $550 million to $600 million from the sale.</p>
<div class="lb-trans"><p>在 1 月份，这家美国上市的家电制造商表示，它在印度子公司拥有 51% 的股份，并希望将其减少至约 20%，以偿还其大部分债务，同时进行全球资产的重大重组。当时，它表示出售可获得 5.5 亿至 6 亿美元的净现金收益。</p>
</div><p>If Advent had acquired the 31% stake, it would have triggered a mandatory open offer for an additional 26% under Indian regulations, giving it a controlling 57% stake. That, the sources say, would have translated into a total deal value of $1 billion for Advent.</p>
<div class="lb-trans"><p>如果 Advent 收购了 31% 的股份，将根据印度法规触发额外 26% 的强制性公开收购，从而获得 57% 的控股权。消息人士称，这将使 Advent 的交易总值达到 10 亿美元。</p>
</div><p>Advent declined to comment, while Whirlpool did not respond to Reuters queries. The sources declined to be named as the matter is confidential.</p>
<div class="lb-trans"><p>Advent 拒绝置评，而惠而浦未对路透社的询问作出回应。消息人士因该事项保密而拒绝透露姓名。</p>
</div><h3>WHIRLPOOL FACES INTENSE INDIA COMPETITION</h3>
<div class="lb-trans"><h3>惠而浦面临激烈的印度竞争</h3>
</div><p>Part of the disagreement that scuttled the deal was that Advent wanted lower pricing since Whirlpool faces short-term headwinds in India, including stricter regulations on product standards and energy efficiency norms, said a source close to the negotiations.</p>
<div class="lb-trans"><p>导致交易破裂的部分原因是，Advent 希望降低价格，因为惠而浦在印度面临短期挑战，包括对产品标准和能效规范的更严格监管，谈判中的一位知情人士表示。</p>
</div><p>Whirlpool parent’s “sole objective was to raise cash here to pay off debt, and the value they wanted was more,” said another person familiar with the negotiations.</p>
<div class="lb-trans"><p>惠而浦母公司的 “唯一目标是筹集现金以偿还债务，他们希望的价值更高，” 另一位知情人士表示。</p>
</div><p>Reuters could not immediately determine how much Whirlpool was asking for and what Advent’s counteroffer was.</p>
<div class="lb-trans"><p>路透社未能立即确定惠而浦的要价以及 Advent 的反报价。</p>
</div><p>Whirlpool has been a household name in India for decades, its “Whirlpool, Whirlpool” jingle resonating across generations.</p>
<div class="lb-trans"><p>惠而浦在印度已经是家喻户晓的品牌，其 “惠而浦，惠而浦” 的广告曲跨越了几代人。</p>
</div><p>Whirlpool of India’s revenue from operations rose 16% in the financial year through March to $880.53 million, but competition from players such as LG Electronics India (LGEL.NS) and Samsung Electronics (005930.KS) has hit sales.</p>
<div class="lb-trans"><p>惠而浦印度的营业收入在截至 3 月的财年中增长了 16%，达到 8.8053 亿美元，但来自 LG 电子印度（LGEL.NS）和三星电子（005930.KS）等竞争对手的压力影响了销售。</p>
</div><p>Advent’s interest in Whirlpool signalled a strategic push into the lucrative Indian market, complementing its existing investments in the country’s consumer durables sector, including Eureka Forbes.</p>
<div class="lb-trans"><p>Advent 对惠而浦的兴趣标志着其在利润丰厚的印度市场的战略推进，补充了其在该国消费耐用消费品领域的现有投资，包括 Eureka Forbes。</p>
</div><p>Shares of Whirlpool India have dropped 47% this year.</p>
<div class="lb-trans"><p>惠而浦印度的股价今年已下跌 47%。</p>
</div>

独家消息 - 消息人士透露，Advent 对惠而浦印度股份的 10 亿美元交易谈判告吹