<p>惠而浦在印度因競爭對手的壓力而苦苦掙扎</p>
<p>Advent 曾是收購該單位股份的領先者</p>
<p>惠而浦的美國母公司希望減少在印度子公司的股份</p>
<p>Advent 與惠而浦的談判因估值分歧而失敗</p>
<p>作者：Vibhuti Sharma</p>
<p>孟買，12 月 6 日（路透社）——全球私募股權公司 Advent International 與美國巨頭惠而浦的談判，計劃以高達 10 億美元收購其印度子公司，因估值分歧而告吹，四位知情人士向路透社透露。</p>
<p>消息人士稱，Advent 曾是收購惠而浦印度（WHIR.NS）31% 股份的領先者，該股份來自其位於密歇根州的母公司惠而浦公司（WHR.N），這將觸發強制性公開收購以獲得控股權。</p>
<p>在 1 月份，這家美國上市的家電製造商表示，它在印度子公司擁有 51% 的股份，並希望將其減少至約 20%，以償還其大部分債務，同時進行全球資產的重大重組。當時，它表示出售可獲得 5.5 億至 6 億美元的淨現金收益。</p>
<p>如果 Advent 收購了 31% 的股份，將根據印度法規觸發額外 26% 的強制性公開收購，從而獲得 57% 的控股權。消息人士稱，這將使 Advent 的交易總值達到 10 億美元。</p>
<p>Advent 拒絕置評，而惠而浦未對路透社的詢問作出回應。消息人士因該事項保密而拒絕透露姓名。</p>
<h3>惠而浦面臨激烈的印度競爭</h3>
<p>導致交易破裂的部分原因是，Advent 希望降低價格，因為惠而浦在印度面臨短期挑戰，包括對產品標準和能效規範的更嚴格監管，談判中的一位知情人士表示。</p>
<p>惠而浦母公司的 “唯一目標是籌集現金以償還債務，他們希望的價值更高，” 另一位知情人士表示。</p>
<p>路透社未能立即確定惠而浦的要價以及 Advent 的反報價。</p>
<p>惠而浦在印度已經是家喻户曉的品牌，其 “惠而浦，惠而浦” 的廣告曲跨越了幾代人。</p>
<p>惠而浦印度的營業收入在截至 3 月的財年中增長了 16%，達到 8.8053 億美元，但來自 LG 電子印度（LGEL.NS）和三星電子（005930.KS）等競爭對手的壓力影響了銷售。</p>
<p>Advent 對惠而浦的興趣標誌着其在利潤豐厚的印度市場的戰略推進，補充了其在該國消費耐用消費品領域的現有投資，包括 Eureka Forbes。</p>
<p>惠而浦印度的股價今年已下跌 47%。</p>

惠而浦

<p>阿德文國際以 10 億美元收購惠而浦印度子公司 31% 股份的交易因估值分歧而告吹。惠而浦計劃將其持股比例從 51% 降至 20% 以償還債務。阿德文的收購將觸發對 57% 控股權的強制性公開報價。由於惠而浦在印度面臨競爭和監管壓力等挑戰，阿德文尋求降低價格，導致交易失敗。惠而浦去年的收入增長了 16%，但其股價今年已下跌 47%</p>

<p>Whirlpool in India has struggled due to competition from rivals</p>
<div class="lb-trans"><p>惠而浦在印度因競爭對手的壓力而苦苦掙扎</p>
</div><p>Advent was a frontrunner to buy a stake in the unit</p>
<div class="lb-trans"><p>Advent 曾是收購該單位股份的領先者</p>
</div><p>Whirlpool’s US parent wanted to pare its stake in India unit</p>
<div class="lb-trans"><p>惠而浦的美國母公司希望減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 與惠而浦的談判因估值分歧而失敗</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>孟買，12 月 6 日（路透社）——全球私募股權公司 Advent International 與美國巨頭惠而浦的談判，計劃以高達 10 億美元收購其印度子公司，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>消息人士稱，Advent 曾是收購惠而浦印度（WHIR.NS）31% 股份的領先者，該股份來自其位於密歇根州的母公司惠而浦公司（WHR.N），這將觸發強制性公開收購以獲得控股權。</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，這家美國上市的家電製造商表示，它在印度子公司擁有 51% 的股份，並希望將其減少至約 20%，以償還其大部分債務，同時進行全球資產的重大重組。當時，它表示出售可獲得 5.5 億至 6 億美元的淨現金收益。</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 收購了 31% 的股份，將根據印度法規觸發額外 26% 的強制性公開收購，從而獲得 57% 的控股權。消息人士稱，這將使 Advent 的交易總值達到 10 億美元。</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 拒絕置評，而惠而浦未對路透社的詢問作出回應。消息人士因該事項保密而拒絕透露姓名。</p>
</div><h3>WHIRLPOOL FACES INTENSE INDIA COMPETITION</h3>
<div class="lb-trans"><h3>惠而浦面臨激烈的印度競爭</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>導致交易破裂的部分原因是，Advent 希望降低價格，因為惠而浦在印度面臨短期挑戰，包括對產品標準和能效規範的更嚴格監管，談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 “唯一目標是籌集現金以償還債務，他們希望的價值更高，” 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>路透社未能立即確定惠而浦的要價以及 Advent 的反報價。</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>惠而浦在印度已經是家喻户曉的品牌，其 “惠而浦，惠而浦” 的廣告曲跨越了幾代人。</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>惠而浦印度的營業收入在截至 3 月的財年中增長了 16%，達到 8.8053 億美元，但來自 LG 電子印度（LGEL.NS）和三星電子（005930.KS）等競爭對手的壓力影響了銷售。</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 對惠而浦的興趣標誌着其在利潤豐厚的印度市場的戰略推進，補充了其在該國消費耐用消費品領域的現有投資，包括 Eureka Forbes。</p>
</div><p>Shares of Whirlpool India have dropped 47% this year.</p>
<div class="lb-trans"><p>惠而浦印度的股價今年已下跌 47%。</p>
</div>

獨家消息 - 消息人士透露，Advent 對惠而浦印度股份的 10 億美元交易談判告吹