GE May Sell Appliance Unit
Putting an end to 120 years of ownership, General Electric is looking to sell its appliance division, the New York Times reported Wednesday.
The company has retained Goldman Sachs in assistance with a possible sale, which could fetch up to $5 billion, the Times said. The appliance unit, a GE core unit dating back to the 19th century, makes microwaves, refrigerators and washer/dryers.
Any company buying the unit would likely receive a license to use the GE brand name for several years, much like Lenovo used the IBM name after purchasing that company.