The cash tender offers relating to the acquisition of Compañia Tecno Industrial S.A (CTI), that Electrolux launched in August, are now closed. Electrolux has reached 97.79% of the shares in CTI and 96.90% of the shares in CTI’s subsidiary, Somela.
In August 2011, Electrolux announced the agreement with Sigdo Koppers and certain associated parties to acquire the controlling interest in CTI, corresponding to approximately 64% of the outstanding shares. Under the terms of the agreement, Electrolux commenced a cash tender offer to acquire 100% of the outstanding shares in CTI. Electrolux also commenced a cash tender offer to acquire all outstanding shares in CTI’s subsidiary, Somela.
Electrolux has closed the cash tender offers and reached 97.79% of the shares in CTI as well as 96.90% of the shares in Somela.
CTI will be consolidated in the Electrolux Group as of October 2011.
Electrolux intends to offer the remaining minority shareholders the opportunity to sell their shares in CTI and Somela over a limited period of time.
Further details on the acquisition can be found in the press release distributed on August 22, 2011: Electrolux acquires Chilean appliance company CTI.
For further information
Contact Electrolux Press Hotline, +46 8 657 65 07.
Electrolux discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.00 CET on October 14, 2011.