On May 15, General Electric Co. said it would
sell or divest its Louisville, Ky.-based appliance business. The unit only contributed 8% to GE revenue last year, but certainly has intangible value. Possible buyers could include Japan's Hitachi Ltd., South Korea's LG Group, China's Haier Group Co., India's Videocon Industries Ltd., Germany's BSH Bosch und Siemens Hausgeräte GmbH and GE's Mexican partner Controladora Mabe SA de CV. The rundown:
While there are a number of bidders, mostly from outside the U.S., GE chairman and CEO Jeff Immelt told Reuters he likes the idea of
spinning the appliances arm off directly to investors. -
Baz HiralalGE appliance strategy takes locals by surpriseGE confirms it may sell appliance unit (TheDeal.com)The buyers:Hitachi Denies Purchase Plans For GE's Appliance Business
LG Elec CEO: Taking Close Look At GE Appliance Unit
Haier reportedly sniffs U.S. opportunity in GE unit
Videocon interested in making deals
Controladora Mabe on negative watch on possible GE appliance ops sale
GE's Immelt says appliances unit "easily sellable"
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