GE to sell appliance business to Electrolux for $3.3 billion
By Reuters
Sep 08, 2014 02:05 AM EDT
Regions
A GE logo is seen in a store in Santa Monica, California. (Photo : Reuters)
General Electric Co (GE.N) said it has signed a definitive agreement to sell its appliance business to Electrolux AB (ELUXb.ST) for $3.3 billion.
GE said the transaction has been approved by the boards of directors of GE and Electrolux and is targeted to close in 2015. Electrolux will continue use of the GE Appliances brand.
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