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US: GE gets antitrust approval to sell appliance unit to Haier for $5.4 billion

By  |  March 3, 2016

The US Department of Justice has completed its review of General Electric Co.’s proposed sale of its appliances business to and Qingdao Haier Co. Ltd.

Kim Freeman, director of global public relations for GE Appliances, said in an email that the completion of the review is an important step toward closing the transaction, which GE continues to target for mid-2016.

Haier announced plans in January to purchase GE Appliances in a $5.4 billion deal. The Haier deal comes after an earlier plan to sell the appliance division to AB Electrolux fell apart in December, following competition concerns by the US Justice Department.

Full content: The Wall Street Journal

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