NewsClifford Chance advises Arçelik on the successful creation of Beko Europe and the acquisition of Whirpool’s MENA operations

Clifford Chance has advised Arçelik A.Ş., one of the world’s leading home appliances and  consumer durables companies, on the successful completion of the formation of a joint venture  between Arçelik’s subsidiary, Beko B.V., and Whirlpool Corporation’s subsidiary, Whirpool EMEA  Holdings LLC, resulting in the establishment of a standalone company, Beko Europe. 

Based on production volumes in 2023, the combined share of Whirlpool’s European major  domestic appliance business and Arçelik’s major domestic appliance, consumer electronics, air  conditioning and small domestic appliance businesses makes Beko Europe the largest in Europe.  With over 20,000 employees and 11 production sites, Beko Europe manufactures approximately  24 million home appliances each year. 

Clifford Chance advised Arçelik not only on the formation of Beko Europe (as previously  announced), but also on the acquisition of the full ownership of Whirlpool’s Middle East and North  Africa (MENA) operations. 

Arçelik’s global footprint now spans 57 markets, with approximately 55,000 employees, and  a combined revenue of around 11 billion euro, as per 2023 figures, achieving a significant increase  in annual production capacity, reaching a total of 45 production facilities. 

Alex Cook, Managing Partner at Clifford Chance’s Prague office, commented: “We are thrilled to  have advised Arçelik on these groundbreaking transactions, and my congratulations go to the  great team at our client with whom we have worked for almost 2 years now in getting these deals  across the line. On the Clifford Chance side this has been an extensive cross-border, cross 

jurisdictional journey, involving some 20 Clifford Chance offices and more than 100 lawyers. It has been an outstanding collective effort.” 

Gareth Camp, Partner in Clifford Chance’s London office, commented: “It has been a real pleasure  supporting Umut Nazif Çelik, Selen Sezginer, Mevce Kuntay Dölen, Naz Altınsoy Uçar and the  rest of the Arçelik team on this complex and transformational transaction. For me, working as  a single team to deliver our expertise across multiple jurisdictions goes to the heart of how Clifford  Chance helped Arçelik reach its goals. We wish Beko Europe every success for the future.” 

The cross-border team that advised on the project included Clifford Chance offices in Prague,  London, Amsterdam, Brussels, Paris, Milan, Frankfurt, Düsseldorf, Istanbul, Warsaw, Bucharest, Newcastle, Barcelona, Madrid, Hong Kong, Beijing, Casablanca, Dubai, New York, and  Washington. The transaction was led by the Prague office’s Managing Partner Alex Cook and  Partner Gareth Camp from the London office, with the support of Managing Partner Itir Çiftçi and  her team in Istanbul. 

The core corporate team included Jeroen Thijssen (Partner), Mark Jan Arends (Partner), Umberto  Penco Salvi (Partner), Michal Jašek (Counsel), Serkan Özel (Counsel), Petr Šebesta (Counsel),  Antonio Folgore (Senior Associate), James Lloyd-Thomas (Senior Associate), Stanislav Holec  (Senior Associate), Adnan Syed (Senior Associate), Emma Boobbyer (Senior Associate), Rizwan  Butt (Senior Associate), Elisa Ielpo (Senior Associate), Sebastiaan van Steenbergen (Associate),  Tomáš Procházka (Associate), Sabrina Spoor (Associate), Jordan Gulwell (Associate), Lauren  Park (Associate), Daniel Redmond (Associate), Anna Lyczakowska (Associate), Nikoletta Koziol  (Associate), Greta Bilotta (Associate), Justin Kottin (Associate), Emma Trooster (Associate), Assia  Al Jerrari (Associate), Shannon Burke (Associate), Sara Bettoni (Associate), Muzammil Malamji  (Associate), Martin Hrachovina (Junior Lawyer), Dávid Herich (Junior Lawyer), Lukas Ljubovič  (Junior Lawyer), Orlaith Fox (Trainee Lawyer), William McQuail (Trainee Lawyer), and Federica  Incoronato (Trainee Lawyer). 

Anti-trust advice was provided by, among others, Anastasios Tomtsis (Partner), Sue Hinchliffe  (Partner), Aleksander Tombiński (Counsel), Chandralekha Ghosh (Counsel), Greg Hayes (Senior  Associate), Anne Filzmoser (Senior Associate), Deepaloke Chatterjee (Senior Associate), Asli  Kural (Senior Associate), Nicole Wise (Associate), Eitan Myers (Associate), Michael Yan  (Associate), Jonathan Blondeel (Associate), Helga Gudmundsdottir (Associate), Ana Hergouth  (Associate), Avani Joshi (Associate), Valia Aravantinou Zafeiri (Associate), Carmen Puscas  (Associate), Emmanuel Goriola (Associate), Maria Tsoukala (Associate), Bram Van der Beken  (Associate), and Cecilia Moore (Associate). 

UK, Dutch, US, and Italian tax advice were provided by, among others, Richard Kalaher (Partner),  Michiel Sunderman (Partner), Paul Seraganian (Partner), Nicola Hemsley (Partner), Edward Page  (Director), Viktoria Parkhomenko (Associate), Mario Martignago (Associate), and Tali Lee  (Associate). 

IP and tech support were provided by, among others, Don McCombie (Partner), Zayed Al Jamil  (Partner), Lauren Royers (Senior Associate), Midori Takenaka (Senior Associate), Hemin Hazar  (Senior Associate), Sally Samadi (Senior Associate), Laura Hartley (Associate), Alex Dixey  (Associate), Lucy Cole (Trainee Lawyer), and Zain Khushi (Trainee Lawyer). 

Employment and pensions advice were provided by, among others, Clare Hoxey (Partner),  Chinwe Odimba-Chapman (Partner), Sonia Gilbert (Partner), Floris van de Bult (Partner), Cécile  Zoro (Counsel), Olukayode Sonuga (Senior Associate), Florence Wong (Senior Associate), Sanne  Blankestijn (Senior Associate), Louise Oliver (Senior Associate), Leon Kidd (Associate), 

Emmanuel Maudet (Associate), Kristi Tucker (Associate), and Sherine Panicker (Trainee Lawyer). 

The team in Istanbul included Deniz Göçük (Counsel), Aslı Kural (Senior Associate), Ekin Oner (Associate), Aysu Gurbuz (Associate), Zeynep Bildik (Associate), Busra Altuntas (Trainee  Lawyer), Aykan Karpuzcu (Trainee Lawyer), and Melisa Mengu (Trainee Lawyer).