AB Electrolux, a leading global company selling household and professional appliances, announced that it is preparing for the separation of its Professional Products business area from the Group.
Electrolux Board of Directors believes that such a split has the potential to create substantial shareholder value over time, given that the two businesses have different end markets, customers and success drivers. A split will enable both companies to focus on their respective opportunities to drive profitable growth, with distinct strategies for innovation and customer focus, as well as a high level of capital efficiency. The separation costs are expected to be relatively low.
Link to Group press release