- Furthers GE’s strategic focus on infrastructure and technology, and reshaping of portfolio
- Deal valued at 8.0x EBITDA (last 12 months), gain of $0.05-$0.07 per share at closing
- Electrolux will continue use of the GE Appliances brand
- Global reach, quality, innovation make Electrolux the right partner for growth of GE Appliances
FAIRFIELD, Conn - September 8, 2014 - GE [NYSE: GE] announced today it has signed a definitive agreement to sell its Appliances business to Electrolux for $3.3 billion.