Reuters reports this morning that Electrolux has agreed to begin takeover talks with creditors of South Korea’s Daewoo Electronics , a source with direct knowledge of the matter said.
The source, who declined to be identified because of the sensitivity of the matter, said the creditors would review whether to enter into talks with Electrolux because the Swedish company had attached some conditions to the agreement, but declined to elaborate.
The move comes after a $513 million takeover deal with Iran’s Entekhab Industrial Group collapsed in late May and within the industry it is widely expected that Electrolux will ultimately become the new owner of Daewoo Electronics.