Chinese Haier Buys GE Appliance Business In $5.4 Billion Deal

Posted: Jan 15 2016, 3:34am CST | by , in News | Latest Business News


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Chinese Haier Buys GE Appliance Business in $4 Billion Deal according to Report

Haier announced a deal buying GE's Appliance business.

Chinese Haier and General Electric announced today that Haier is buying GE's Appliance business. Haier is caughing up $5.4 billion for the GE unit.

GE has tried to sell the appliance business since a while, ran into antitrust issues. China's Haier seems to be ok for regulators as they are a small player in the United States says the Wall Street Journal.

With the purchase of the GE Appliance business, Haier will be suddenly in the top 3 appliance companies in the United States.

Qingdao Haier Co., Ltd. was established in 1989. Haier America is a wholly owned subsidiary of the Haier Group. Haier employs more than 70,000 people around the world and distributes products in more than 100 countries and regions with global revenues reaching $32.1 billion in 2014.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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