Sweden's Electrolux has postponed a $480m deal to acquire a controlling stake in Cairo-based Olympic Group, the biggest home appliance maker in the Middle East and North Africa region, because of the current unrest. In October 2010, Electrolux signed a preliminary agreement with Paradise Capital to acquire 52% of Olympic Group for Financial Investments S.A.E. Olympic Group has 7,300 employees and manufactures washing machines, refrigerators, cookers and water heaters.
� 2011 Al Bawaba (www.albawaba.com)
Source: http://www1.albawaba.com/main-headlines/egypt-electrolux-postpones-egypt-deal
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