Electrolux Announces Rights Issue and Midea Tie-up
The Swedish appliance maker is raising capital to fund three new joint ventures with China's Midea Group. These units will focus on North American operations.
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ELECTROLUX AB-B has announced a major strategic overhaul involving a 9 billion Swedish crown ($976.34 million) rights issue and a significant new partnership with China-based Midea Group Co Ltd-A. The collaboration aims to establish three joint ventures focused on the North American market as part of a broader restructuring of the Swedish appliance maker's global operations.
