08.09.2014 - General Electric sells household appliances industry
On the market appeared the information about a possible sale by the American corporation General Electric of its business for the production of kitchen appliances to the Swedish giant Electrolux. According to preliminary data, the value of the deal may be about 2.5 billion dollars.
Electrolux is the world's second largest producer of household appliances and the main competitor of the company is Whirlpool. It should be recalled that in 2008, General Electric was trying to sell this unit, but the crisis has prevented completion of the transaction. Selling a business that does not show a positive growth in the financial results will be displayed on the overall financial performance of the corporation. We maintain our positive long-term outlook for the company's shares in connection with the successful activities of the sectors of oil and gas, aviation, energy and others. Growth potential for the year is over 25%.