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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Oilgear | NASDAQ:OLGR | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
From Jun 2019 to Jun 2024
Political turmoil in Egypt has caused Swedish household appliances maker Electrolux (ELUX-B.SK) to put the acquisition of Cairo-based Olympic Group (OLGR.CI) on hold, Chief Executive Keith McLoughlin told Dow Jones Newswires Wednesday.
"We think that it makes no sense to conclude the deal right now and we have decided to put the acquisition on hold until the smoke has cleared in Egypt," McLoughlin told Dow Jones Newswires.
In October last year, Electrolux announced a preliminary agreement to acquire a 52% stake in Egypt-listed Olympic Group (OLGR.CI), one of the largest manufacturers of household appliances in the Middle East and North Africa, from the holding company Paradise Capital.
Electrolux previously said the $248 million acquisition was due to complete in the second quarter of 2011.
-By Sven Grundberg, Dow Jones Newswires; +46-8-5451-3098; sven.grundberg@dowjones.com
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