COPENHAGEN (Reuters) – Swedish group Electrolux said in a statement on Thursday that it had agreed to sell its water heater business in South Africa for about 1.4 billion kronor ($132.69 million).
The deal includes the Kwikot brand and water heater production facilities in Johannesburg, Electrolux said, adding that there would be a negative earnings impact of approximately SEK 600 million in the second half of 2024.
The sale is expected to be completed in the fourth quarter of this year, it said.
(1 US dollar = 10.5506 Swedish kronor)
(Reporting by Louise Breusch Rasmussen; Editing by Jason Neely)
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