NEW YORK: General Electric Co is in talks with Sweden's Electrolux AB and other parties to sell its household appliances unit, people familiar with the matter said on Thursday.
The business sells home appliances under the GE Monogram, GE Cafe and Hotpoint brands and could be worth between $2 billion to $2.5 billion, the people said, asking not to be named because the matter is not public.
The US diversified conglomerate is trying to sell its home appliances unit as Chief Executive Officer Jeffrey Immelt seeks to allocate resources to higher growth businesses.
Bloomberg News earlier reported that GE's appliances unit had drawn interest from Electrolux and consumer development startup Quirky. Representatives for GE and Electrolux did not immediately respond to requests for comment.
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