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Olympic extends deadline for Electrolux due diligence

Olympic Group, the Egyptian appliance maker has agreed to give Sweden's Electrolux an additional 15 days to complete due diligence on its planned $370m takeover of the Egyptian firm, Reuters has reported. Electrolux said in October it would pay Olympic's owner Paradise Group EGP45.3 per share for a 52% stake and then launch an offer for the rest of the company on completion of the deal at the same price.