Davis Polk is advising AB Electrolux in connection with its $3.3 billion acquisition of the appliances business of General Electric. The acquisition includes a 48.4% shareholding in the Mexican appliance company Mabe, as well as a long term license agreement for the GE Appliances brands. The transaction, which is expected to close during 2015, is subject to regulatory approvals.
Electrolux is a global leader in household appliances and appliances for professional use, selling more than 50 million products to customers in more than 150 markets every year. GE Appliances, which is headquartered in Louisville, Kentucky, is one of the premier manufacturers of kitchen and laundry products in the United States.
The Davis Polk corporate team includes partners George R. Bason Jr. and Marc O. Williams, counsel James E. Elworth and associate Robert Rosen. Counsel Matthew J. Bacal and associate David R. Bauer are providing intellectual property advice. Partner Kathleen L. Ferrell and associate Kay Ng are providing tax advice. Partner Edmond T. FitzGerald and associate Gabrielle White are providing executive compensation advice. Counsel Betty M. Huber and associate Michael Comstock are providing environmental advice. All members of the Davis Polk team are based in the New York offices.
