STOCKHOLM, Dec. 22, 2023 /PRNewswire/ -- Electrolux Group
has divested its factory in Memphis,
Tennessee, USA, for a cash consideration of USD 35m (approx. SEK
350m).
The gain of approximately USD 25m
(approx. SEK 250m) from the
divestment will be recorded as a non-recurring item, positively
impacting the operating income in business area North America during the fourth quarter of
2023.
The divestment follows a previous agreement, under which the
intended buyer chose to terminate the agreement at the end of the
due diligence period due to changed financial circumstances.
The divestment is part of the actions to divest non-core assets,
which were communicated on July 20,
2023.
The Group's production in Memphis stopped on June
30, 2022, and the operations have been transferred to the
new facility in Springfield,
Tennessee.
This disclosure contains information that Electrolux Group is
obliged to make public pursuant to the EU Market Abuse Regulation
(EU nr 596/2014). The information was submitted for publication,
through the agency of the contact person, on 22-12-2023 16:30
CET.
CONTACT:
For more information:
Sophie Arnius, Investor Relations, +46 70 590 80 72
Electrolux Group Press Hotline, +46 8 657 65 07
The following files are available for download:
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https://mb.cision.com/Main/1853/3898179/2513713.pdf
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2023-12-22 Press
release Memphis divestment final eng
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