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Electrolux to pay cash for Olympic purchase

Cairo, July 11, 2011

Olympic Group said on Monday its acquisition by Sweden's Electrolux AB remained an all-cash deal despite the lower price and the Egyptian firm would now expand into new European markets.

Asked about payment, Olympic's Chief Financial Officer Hossam Mestikawi told Reuters: "Cash, it's a cash deal, they are acquiring from the market. They're buying 100 per cent of the firm." – Reuters




Tags: Cairo | cash | olympic | Electrolux |

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