STOCKHOLM, April 11, 2023 /PRNewswire/ -- The
divestment of the Electrolux Group manufacturing facility in
Memphis, Tennessee, USA, will not
be completed as expected since the intended buyer has failed to
proceed to closing. Electrolux Group will now seek an alternative
buyer.
As earlier communicated, completion of the divestment of the
facility was contingent on various factors. The intended buyer has
defaulted on its obligations and the agreement is therefore
terminated.
In the now terminated contract, communicated on October 12 and December
19, 2022, Electrolux Group had agreed to divest the
Memphis facility for a cash
consideration of USD 82.5m (approx.
SEK 930m). Production in Memphis stopped on June
30, 2022, and the operations have been transferred to the
new facility in Springfield,
Tennessee.
This is information that AB Electrolux is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person
set out above, on 11-04-2023
08:15 CET.
For further information, please contact:
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:
https://mb.cision.com/Main/1853/3748688/1975275.pdf
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2023-04-11 Press
release Memphis final eng
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