General Electric Said to be Considering Sale of Appliance Business

Now watching

Next video starts in : 7 Play

General Electric Said to be Considering Sale of Appliance Business

General Electric Said to be Considering Sale of Appliance Business
Replay video
Up next

Scotland stays; Ellison leaves; Alibaba gets ready for its close up

Scotland stays; Ellison leaves; Alibaba gets ready for its close up Up next

Scotland stays; Ellison leaves; Alibaba gets ready for its close up

Unlock your personal NFL Now stream by signing in to NFL.com

General Electric Said to be Considering Sale of Appliance Business

TheStreet 0:53 mins

General Electric is reportedly in talks with Sweden's Electrolux and consumer product development company Quirky about selling its home appliance business. GE Appliances could sell for as much as $2 billion, according to Bloomberg. The sources said Quirky could team up with private-equity firms to acquire a majority stake, while GE would have a minority holding. Last November, GE invested $30 million in Quirky as part of an initiative to focus on smart-home devices. News of a potential sale of the appliances unit comes as CEO Jeffrey Immelt puts an increased emphasis on industrial operations. TheStreet's Brittany Umar has details from New York.

View Comments (0)