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Electrolux buys GE's appliances unit

  • 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.”

     

    Tagged as: Swedish, Electrolux, GE, household appliances, American market, Electrolux, Whirlpool, Keith McLoughlin, business news