General Electric Said to be Considering Sale of Appliance Business

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General Electric Said to be Considering Sale of Appliance Business

General Electric Said to be Considering Sale of Appliance Business
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General Electric Said to be Considering Sale of Appliance Business

by 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.

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