Electrolux's Biggest Shareholder Supports GE Appliances Deal
September 08 2014 - 5:44AM
Dow Jones News
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
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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