Electrolux Settles French Antitrust Case For $60M

Electrolux announced on Tuesday that it will set aside a provision of 650 million Swedish kronor ($60.1 million) in its second-quarter report to resolve a French antitrust case that was previously disclosed.

The French competition authority accused Electrolux France of violating antitrust rules in France in 2013 by engaging in resale price maintenance and sharing competitively sensitive information about small appliances with other parties. As a result, the Swedish home appliance manufacturer was investigated.

Read more: French Competition Regulator Says Electrolux Violated Antitrust Regulations

The authority carried out two investigations, one focusing on the period from 2006 to 2009. The investigation concluded in December 2018, and Electrolux was fined 48 million euros ($51.4 million) as a result.

The provision announced on Tuesday pertains to a separate investigation and encompasses the timeframe from 2009 to 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.”

The provision includes a settlement of a legal matter in Europe, which is a small component.