Swedes Finish with 98% of Chile’s CTI

Swedish home appliances maker Electrolux has reached 97.79% ownership in Chile’s Compania Tecno Industrial (CTI), following the close of a tag-along offer. Electolux bought 64% of its Chilean peer in August for $691.5m equivalent from Sigdo Koppers, and has now spent an additional $570m equivalent. It offered investors the same CLP34.87 ($0.07) per share for remaining CTI shares and CLP325 per share for CTI’s listed Somela unit. CTI is to be consolidated into Electrolux this month.