Whirlpool Corp. (NYSE: WHR) is buying a majority stake in Indesit Co. SpA (BIT: IND).

Indesit, headquartered in Fabriano, Italy, manufactures and distributes domestic appliances, including washing machines, dryers, diswashers, refrigerators, ovens and other products. The company's main brands are Indesit, Hotpoint and Scholtes. The purchase works out to€758 million (U.S. $1.04 billion).

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