GE GE Aerospace

   By Dominic Chopping 
 

STOCKHOLM--Sweden's Investor AB (INVE-B.SK), Electrolux's (ELUX-B.SK) biggest shareholder, fully supports the acquisition of General Electric's appliances business and will subscribe for its pro rata share of the SEK6 billion rights issue that will partly fund the deal, it said Monday.

Investor holds 15.5% of the capital and 30% of the votes in Electrolux meaning its share will be approximately SEK1 billion.

Investor chief executive Borje Ekholm said "as the leading owner, with a long-term ownership horizon, we find Electrolux's acquisition of GE Appliances industrially attractive and fully support it. The acquisition will strengthen Electrolux's position significantly in the important U.S. market and allow for continued investments in innovation and growth."

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

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