GE to sell appliances business to China's Haier for $5.4 billion General Electric Co said it would sell its appliance business to China's Haier Group for $5.4 billion in cash, another step in its push to sell its non-core assets and project itself as a technology company.
The deal comes weeks after GE walked away from a deal to sell the business to Sweden's Electrolux for $3.3 billion, following months of opposition from U.S. antitrust regulators.
GE said the deal values the appliance business at 10 times last 12 months earnings before interest, taxes, depreciation, and amortization (EBITDA). Whirlpool Corp is valued at 7.7 times.
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