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BUSINESS

Electrolux Bids for Daewoo Electronics

Published onsdag 24 mars 2010 kl 18.30
Electrolux has its headquarters in Stockholm

Swedish home appliance maker Electrolux is bidding to buy Daewoo electronics. Electrolux is one of two preferred bidders with a deal expected in August.

"I can confirm that we have placed an indicative bid for the major appliances division of Daewoo that is non-binding," said spokesperson for Electrolux, Anders Edholm.

Daewoo Electronics produces mass market appliances including microwaves, refrigerators, vacuum cleaners and washing machines, and is South Korea's third-largest electronics goods maker. Electrolux is reported to be looking to expand in South East Asia.

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