Investor supports Electrolux's acquisition of GE Appliances and the proposed rights issue
Today, AB Electrolux announced that it has entered into an agreement to acquire the appliances business of General Electric. The acquisition will partly be funded by a rights issue of approximately SEK 6 bn. Investor, which holds 15.5 percent of the capital and 30.0 percent of the votes of AB Electrolux, fully supports the transaction and the rights issue and intends to subscribe for its pro rata share (adjusted for treasury shares), approximately SEK 1 bn.
“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, further solidifying Electrolux’s position as a global leader”, comments Investor CEO Börje Ekholm.
Our press releases can be accessed at www.investorab.com
Investor is the leading owner of high quality Nordic-based international companies, founded by the Wallenberg family a hundred years ago. Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class. Our holdings include Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care.
For further information:
Stefan Stern, Head of Corporate Relations and Communications, Phone 46 8 614 2058, 46 70 636 7417
Magnus Dalhammar, Head of Investor Relations, Phone 46 8 614 2130, 46 73 524 2130
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