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Electrolux agrees to sell idle factory in Memphis in the US

Reuters
FILE PHOTO: The Electrolux logo is seen during the IFA Electronics show in Berlin, Germany

STOCKHOLM (Reuters) - Electrolux, Europe's biggest appliances maker, has agreed to sell its idle factory in Memphis in the United States for $82.5 million, it said in a statement.

The Swedish group said late on Wednesday it aimed to finalise the deal with an undisclosed buyer, and book a gain of around 740 million crowns ($65.3 million) from it, in the fourth quarter.

The rival to U.S. group Whirlpool halted production in Memphis in June, transferring production to a new factory in Springfield.

($1 = 11.3368 Swedish crowns)

(Reporting by Anna Ringstrom)