Electrolux's Largest Shareholder Backs Company Split

   By Dominic Chopping

STOCKHOLM--The largest shareholder in Swedish appliance maker Electrolux AB (ELUX-B.SK) said Friday that it will support the company's plan to split the group's consumer and professional businesses into two separate listed companies.

Investor AB (INVE-B.SK) holds 16.4% of the capital in Electrolux and 28.3% of the votes.

"We believe that the intended split will further sharpen focus and add customer value both in Electrolux core consumer business and in the professional appliances business," Investor Chief Executive Johan Forssell said.

"A separation will create two strong platforms with good prospects for profitable growth and long-term value creation," he said.

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping @WSJNordics

(END) Dow Jones Newswires

February 01, 2019 04:59 ET (09:59 GMT)

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