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US/China: GE to sell appliances business to China’s Haier for $5.4 billion

By  |  January 17, 2016

Haier Group said it would buy General Electric appliance business for $5.4 billion, the Chinese company’s latest attempt to boost its presence in the lucrative United States market.

Haier, which made an abortive attempt in 2008 to buy the business, has a negligible presence in the US white goods market, dominated by Whirlpool, Sweden’s Electrolux and GE.

The news comes weeks after GE walked away from a deal to sell the business to Electrolux for $3.3 billion, following months of opposition from U.S. antitrust regulators.

The deal with Haier is unlikely to draw intense antitrust scrutiny, according to some antitrust experts, but may get a hard look from the Committee on Foreign Investment in the United States.

Full content: The Wall Street Journal

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