Electrolux in talks to buy GE’s appliances business

World number two home appliances maker Electrolux said yesterday it was in talks to buy General Electric’s household appliances business.

"AB Electrolux today confirmed that it is in discussions regarding a possible acquisition of the appliances business of GE. No agreement has been reached," said Electrolux, a smaller rival to Whirlpool.

GE’s home appliances business, which sells products under the GE Monogram, GE Cafe and Hotpoint brands, could be worth between $2 billion and $2.5 billion. The US conglomerate is trying to sell its home appliances unit as it seeks to allocate resources to higher-growth businesses.

Electrolux last month posted better quarterly profits than expected, and stuck to forecasts for growth in its home region Europe after years of gloom, and in the US. – (Reuters)