Electrolux shareholders vote yes to $970 million share issue

STOCKHOLM, May 27 (Reuters) - Electrolux ELUXb.ST shareholders on Wednesday approved the Swedish appliances maker's planned share issue.

Electrolux, which has struggled for years with weak demand and cut-price competition, said in April it planned a 9 billion crown ($969.6 million) rights issue to fund a tie-up in North America with China's Midea 000333.SZ and other restructuring.

($1 = 9.2825 Swedish crowns)


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.