Electrolux: to sell water heater business in South Africa

(CercleFinance.com) - Electrolux Group announces that it has signed an agreement to sell its water heater business in South Africa under the Kwikot brand for an enterprise value of ZAR 2.
4 billion (approx. 120 ME) to Haier Smart Home.

The sale includes the Kwikot brand and the water heater production facilities (geysers) located in Johannesburg, and is part of the strategy to divest non-core assets.

The sale is expected to close in the fourth quarter of 2024, and is subject to regulatory approval.


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