Whirlpool took a 53 percent stake in the Dutch electronics group Phillips' home appliances business to leapfrog into the European market. This is an example of a ________.

Question

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Whirlpool and Phillips entered into a joint venture, which involves two or more companies pooling resources to create a separate entity to pursue a specific business opportunity. Whirlpool took a 53 percent stake in Phillips' home appliances business to enter the European market.

Whirlpool Took a 53 Percent Stake in the Dutch Electronics