Electrolux confirms bid for Daewoo | business | Hindustan Times
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Electrolux confirms bid for Daewoo

business Updated: Mar 24, 2010 21:23 IST

Swedish appliance maker Electrolux AB has made a bid for Daewoo Electronics Corp of South Korea. Electrolux spokesman Anders Edholm said on Tuesday that “we can confirm we’ve made an indicative offer” but declined to comment on the amount of the bid.

Daewoo Electronics, South Korea’s third-largest electronics goods maker by sales, has been under a creditor-led debt-rescheduling programme since 2000 after amassing huge debts.

Stockholm-based Electrolux is a manufacturer of household appliances including refrigerators and washing machines.