World Economy

Electrolux, GE in $3.3b Deal

Electrolux, GE in $3.3b DealElectrolux, GE in $3.3b Deal

General Electric Co said it has signed a definitive agreement to sell its appliance business to Electrolux AB for $3.3 billion, Reuters said. GE said the transaction has been approved by the boards of directors of GE and Electrolux and is targeted to close in 2015. Electrolux will continue use of the GE Appliances brand.