Electrolux will acquire a 64% stake in Compañia Tecno Industrial (CTI). It will buy the controlling stake in the Chilean appliance manufacturer from Sigdo Koppers and certain associated parties.
The Swedish appliance maker will also place a cash tender offer to acquire 100% of the outstanding shares of CTI for $0.07 per unit. The financial details of the transaction have not been disclosed.
Click here for the release from Business Wire.