By Dominic Chopping
STOCKHOLM–Electrolux said Tuesday that it will book a 650 million Swedish kronor ($60.1 million) provision in its second-quarter report to settle a previously announced French antitrust case.
The Swedish home-appliance manufacturer came under investigation in 2013 after the French competition authority alleged Electrolux France acted in breach of antitrust rules in France by conducting resale price maintenance and exchanging competitively sensitive information with other parties relating to small appliances in France.
The authority subsequently conducted two separate investigations. One investigation related to the period 2006-09 and was completed in December 2018, resulting in Electrolux being fined 48 million euros ($51.4 million).
The provision announced Tuesday relates to the other investigation and covers the period between 2009 and 2014.
“A settlement has now been agreed with the competition authority,” Electrolux said.
“The final amount will be decided at the end of the procedure.”
A minor part of the provision relates to settlement of another legal matter in Europe, it added.
Write to Dominic Chopping at [email protected]
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