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Electrolux: plans to list professional unit in March

(CercleFinance.com) - Electrolux is preparing to float its professional business in March 2020 by listing it in Stockholm, the Swedish appliance maker said on Monday.

The company will distribute the shares of Electrolux Professional to its shareholders and will list them on the Nasdaq Stockholm market, it said.

The listing is expected to occur by 30 March, the group added.

The distribution of the shares is expected to be made in accordance with the so-called "Lex Asea" rules, a Swedish tax regulation that implies that the shares can be distributed without triggering any immediate taxation for Swedish-based shareholders.

The professional business - which makes food-service and laundry equipment - is considered to be the most profitable part of Electrolux.

Electrolux shareholders will vote on the resolution at an Extraordinary General Meeting to be held on 21 February at the group's Stockholm headquarters.

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