Whirlpool of India falls after Reuters reports talks with Advent for $1 billion stake collapse

Whirlpool of India WHIR.NS falls 3.78% to 913.60 rupees

Private equity firm Advent International's talks to acquire WHIR for up to $1 billion collapse due to disagreements over valuation, Reuters reports

Advent had emerged as front-runner to acquire 31% stake in WHIR from U.S.-based parent Whirlpool Corp WHR.N

However, the acquisition would have triggered a mandatory open for an additional 26% stake under Indian regulations, giving it a controlling 57% stake for $1 billion, report adds

Advent wanted lower pricing since WHIR faces short-term headwinds in India, including stricter regulations on product standards, report says

YTD, shares of WHIR down ~50%