Electrolux's Largest Shareholder Backs Company Split
February 01 2019 - 5:14AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--The largest shareholder in Swedish appliance maker
Electrolux AB (ELUX-B.SK) said Friday that it will support the
company's plan to split the group's consumer and professional
businesses into two separate listed companies.
Investor AB (INVE-B.SK) holds 16.4% of the capital in Electrolux
and 28.3% of the votes.
"We believe that the intended split will further sharpen focus
and add customer value both in Electrolux core consumer business
and in the professional appliances business," Investor Chief
Executive Johan Forssell said.
"A separation will create two strong platforms with good
prospects for profitable growth and long-term value creation," he
said.
Write to Dominic Chopping at dominic.chopping@wsj.com;
@domchopping @WSJNordics
(END) Dow Jones Newswires
February 01, 2019 04:59 ET (09:59 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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