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Midea, Electrolux form JV in China

The Chinese home appliances retailer Midea Group Co. Ltd. signed a joint venture deal with Swedish household appliance company AB Electrolux to promote and distribute AEG appliances in the Chinese market, according to a May 2 press release.

AEG, a German brand, is part of the Electrolux group.

Midea is the majority shareholder, and the transaction is subject to regulatory approvals.