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On September 8, 2014, General Electric agreed to sell the company to Electrolux, a Swedish appliance manufacturer and the second-largest consumer appliance manufacturer after Whirlpool Corporation, for US$3.3 billion in cash. The deal carried a US$175 million termination fee clause if Electrolux was unable to complete the acquisition.
In June 2016, Haier Group acquired GE Appliances, headquartered in Louisville, Kentucky, from General Electric for $5.6 billion. [21] [22] [23] In October 2018, Haier acquired Italy based Candy group. [24] By 2020, Haier had been the world's number one home appliance brand for 12 consecutive years. [25]
Due to antitrust issues, GE cancels the appliance business deal with Electrolux after strong oppositions from antitrust regulators [29] 2015 GE completes Alstom Power acquisition. 2016 GE agreed to sell its appliance business to Qingdao Haier for $5.4 billion including the 48.4% of shares it held in Mabe, a Mexican appliance maker [30] 2016
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