STOCKHOLM, December 22, 2023 /PRNewswire/ — The Electrolux group sold its factory Memphis, TennesseeUnited States, for a cash consideration of $35 million (approximately. 350 million SEK).
A gain of approximately $25 million (approximately. 250 million SEK) resulting from the sale will be recognized as a non-recurring item, which will have a positive impact on the operating income of the business sector North America during the fourth quarter of 2023.
The transfer follows a previous agreementunder which the prospective buyer has elected to terminate the contract at the end of the due diligence period due to a change in financial circumstances.
The sale is part of the actions aimed at disposing of non-core assets, which have been communicated on July 20, 2023.
The Group’s production in Memphis stop him June 30, 2022and operations were transferred to the new facility of Springfield, Tennessee.
This disclosure contains information that the Electrolux Group is required to make public in accordance with the European Market Abuse Regulation (EU No. 596/2014). The information has been submitted for publication, through the contact person, on 22-12-2023 4:30 p.m. (Paris time).
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:
|
2023-12-22 Press Release Memphis Divestment Finale |
Show original content:https://www.prnewswire.com/apac/news-releases/electrolux-group-has-completed-memphis-factory-divestment-302021874.html
SOURCE Electrolux Group
