Moscow. On 5 November. The U.S. justice Department insists that the Swedish company Electrolux to sell its American business in the framework of the acquisition of units for the production of household equipment from the company General Electric, said Electrolux lawyer Joe Sims.
“In my opinion, the only proposal that is ready to accept the U.S. government, is selling its entire business in the U.S., – quotes the Agency Bloomberg. – It is obvious that in this case the value of the transaction will be reduced”.
The Ministry of justice had previously blocked the deal, valued at $3.3 billion, justifying this decision by the fear of weakening competition in the market. Electrolux challenged this decision in court. The hearing will begin on 9 November.
Previously the Swedish company has offered to sell some assets, but the proposal was insufficient for the Ministry of justice.
In the course of trading on Thursday, shares of GE fell by 0.3% Electrolux quotations ADR decreased by 3.1%.