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Annual Report 2015 Report by the Board of Directors Notes Proposed distribution of earnings Auditor’s report Eleven-year review Quarterly information

Note 26 Acquired and divested operations

All amounts in SEKm unless otherwise stated

Acquired operations

  2014 2015
Acquired operations    
BeefEater barbecue operations, Australia 68 12
Veetsan Commercial Machinery Co, China 79
Acquired non-controlling interest    
CTI Group, Chile 1
Total cash paid for acquisitions 69 91

In February 2015, Electrolux signed an agreement to acquire the Chinese company Shanghai Veetsan Commercial Machinery Co Ltd, operating in the professional dishwasher segment. Control was transferred at the end of May. Consideration paid in 2015 amounts to CNY 58m (SEK 79m). An additional purchase price of up to CNY 37m will be paid over the next 3 years if certain performance and other related criteria are met. The acquired entity’s annual net sales are approximately CNY 90m (approximately 115m).

In 2014, the Group closed a deal acquiring the BeefEater barbecue business situated in Australia for a total consideration of AUD 13m of which AUD 11m (SEK 68m) was paid in 2014 and an additional AUD 2m (SEK 12m) in September 2015.