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Turkey's Arcelik to acquire Pakistani appliance maker

An Arcelik laundry machine factory on the outskirts of Istanbul

ISTANBUL -- This time, Turkey's leading home appliance business came out on top.

Earlier this year, Arcelik was outbid for General Electric's appliance business by Chinese heavyweight Haier. Later, another Chinese company, Midea Group, beat Arcelik in the race for Toshiba's home appliance business.

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