A stake of some 3 million shares in Electrolux (ELUXb.ST: Quote, Profile, Research), the world’s biggest white goods maker, was put up for sale this week, Swedish business daily Dagens Industri reported on Tuesday, citing unnamed sources.
Investment bank Morgan Stanley has been recruited to place the stake, though it was not clear if the shares were ordinary B-series shares, or A-series shares with 10 times the voting strength, the newspaper said in its Wednesday edition, published on its web site late on Tuesday.
One source told the paper that Investor (INVb.ST: Quote, Profile, Research), the investment vehicle of Sweden’s powerful Wallenberg family and biggest owner of Electrolux stock, was the seller.
Investor owns 8.77 million A-series shares and 14.92 million B-series shares in Electrolux, corresponding to 7.7 percent of capital and 27.2 percent of voting rights. Some 9.5 million of the total 308.9 million Electrolux shares are A-series stock.
From Reuters