Electrolux: to sell water heater business in South Africa
(CercleFinance.com) - Electrolux Group announces that it has signed an agreement to sell its water heater business in South Africa under the Kwikot brand for an enterprise value of ZAR 2.
4 billion (approx. E120m) to Haier Smart Home.
The sale includes the Kwikot brand and the water heater production facilities (geysers) located in Johannesburg, and is part of the strategy to divest non-core assets.
The sale is expected to close in Q4 2024, and is subject to regulatory approval.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
4 billion (approx. E120m) to Haier Smart Home.
The sale includes the Kwikot brand and the water heater production facilities (geysers) located in Johannesburg, and is part of the strategy to divest non-core assets.
The sale is expected to close in Q4 2024, and is subject to regulatory approval.
Copyright (c) 2024 CercleFinance.com. All rights reserved.