GE Terminates Agreement to Sell Appliances Business to Electrolux; GE to Receive $175M Breakup Fee

GE

announced today it has terminated its agreement to sell its Appliances business to Electrolux

and will now pursue other options to sell the Appliances business. GE is entitled to a break-up fee of $175 million from Electrolux. The Appliances business is performing well and GE will continue to run the business while it pursues a sale. About GE GE

 is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and