The division will be sold to Haier Smart House.
It is anticipated that the transaction would finalize in this year's fourth quarter. Electrolux's profitability will be negatively impacted by the asset sale for a one-time amount of about SEK600 million ($56.8 million).
Kwikot brought around 1.9 billion rand in revenue in 2023.
The capitalization of Electrolux has decreased by 18.7% since the year's start.
source: reuters.com
It is anticipated that the transaction would finalize in this year's fourth quarter. Electrolux's profitability will be negatively impacted by the asset sale for a one-time amount of about SEK600 million ($56.8 million).
Kwikot brought around 1.9 billion rand in revenue in 2023.
The capitalization of Electrolux has decreased by 18.7% since the year's start.
source: reuters.com