STOCKHOLM, July 18, 2024 /PRNewswire/ -- Electrolux Group has signed an agreement to divest its water heater business in South Africa under the Kwikot brand for an enterprise value of ZAR 2.4bn (approx. The divestment includes the Kwikot brand and the production facilities for water heaters (geysers) located in Johannesburg, and is part of the previously communicated work to sharpen the Group's strategic focus by divesting non-core assets. The water heater business in South Africa is profitable and the Kwikot brand is well-known in the market. Net sales in 2023 related to this business amounted to approximately ZAR 1.9bn (approx. The information was submitted for publication, through the agency of the contact person set out above, on 18-07-2024 09:00 CET.
