Electrolux Confirms Chile Talk

Sweden’s Electrolux has confirmed it is in discussions with Chilean Sigdo Koppers about the acquisition of home appliance manufacturer Compania Tecno Industrial (CTI). The Chilean conglomerate had indicated previously it was negotiating the sale of its 50.1% stake in CTI, and Electrolux had been thought to be the likely candidate. The value of such a deal, which would include Somela in Chile and Frimetal in Argentina, is seen at more than $600m. TCI shares closed at CLP34.99 Friday with Sigdo Koppers shares closing at CLP800.20.