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It symobilizes a website link url. Email icon An envelope. STOCKHOLM Reuters - Electrolux shares hit an eight-month high on Friday after the home appliances maker announced plans to spin off its most profitable business to shareholders and beat earnings forecasts.

Unser Service-Angebot | Electrolux

CEO Jonas Samuelson said the move would allow Professional to accelerate organic growth and access capital to chase high-value mergers and acquisitions, which so far it had not been able to do given higher multiples in its niche sector versus the parent consumer unit. Samuelson said Professional could seek targets in areas where it had a smaller footprint like North America and quick service restaurants and those that would accelerate its business in growing emerging markets. Electrolux shares were up almost 10 percent at Professional is the most profitable part of Electrolux and reported operating profit of 1.

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