ELUXY AB Electrolux (PK)

By Joann S. Lublin, Dana Mattioli and Ted Mann 

General Electric Co. is near a deal to sell its appliance business to China's Haier Group for more than $4 billion, according to people familiar with the matter, after GE's previous effort to sell the unit was blocked by antitrust regulators.

The Chinese appliance maker outbid other foreign corporate bidders for the Louisville, Ky.-based business, according to one of the people. Two people familiar with the matter said a deal could be announced as soon as Friday, although as with all deals, timing could slip.

GE has been running an auction for the century-old appliance business, since it abandoned a $3.3 billion sale to Sweden's Electrolux AB in December. The U.S. Justice Department had sued to block that transaction, saying the combination would hurt competition for cooktops and ranges.

GE declined to comment. Haier didn't respond to a request for comment.

(END) Dow Jones Newswires

January 14, 2016 22:08 ET (03:08 GMT)

Grafico Azioni AB Electrolux (PK) (USOTC:ELUXY)
Storico
Da Dic 2024 a Gen 2025

Grafico Azioni AB Electrolux (PK) (USOTC:ELUXY)
Storico
Da Gen 2024 a Gen 2025