Deals
Electrolux Chief Waiting in Wings to Buy Daewoo Electronics
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Electrolux AB is interested in buying Daewoo Electronics Corp. should the takeover of the bankrupt South Korean appliance maker by an Iranian rival fall through, Chief Executive Officer Keith McLoughlin said.
Creditors of Daewoo Electronics last year agreed to an offer from Entekhab Industrial Group over a competing one from Electrolux. Lenders have since extended the deadline for Entekhab to pay the 471.5 billion won ($420 million) price tag until April 7. Daewoo Electronics had sales of 1.13 trillion won in 2009, according to the latest available regulatory filing.