Electrolux buys GE's appliances unit
September 8 , 2014
Swedish firm Electrolux is buying GE’s (General Electric) household appliances unit for $3.3bn, giving it a much bigger presence in the American market.
Electrolux, which is dominant in Europe, is the second-biggest home appliance firm in the world after Whirlpool.
Chief executive Keith McLoughlin described the deal as a “historic moment and important strategic move.”
This would be the largest ever acquisition by the Swedish firm. McLoughlin said it strengthened the firm’s “commitment to the appliance business.”