GE gets anti-trust approval to sell appliance unit to Haier

Thu Mar 3, 2016 2:08pm EST
 
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(Reuters) - General Electric Co (GE.N: Quote) said its proposed deal to sell its appliance business to China's Haier Group for $5.4 billion had received approval from U.S. anti-trust authorities.

GE has received notice from the Department of Justice that it has completed its review of the proposed transaction, a GE spokeswoman told Reuters.

GE abandoned the sale of the business to Sweden's Electrolux AB (ELUXb.ST: Quote) for $3.3 billion in December after months of opposition from regulators.

The Justice Department declined to comment.

(Reporting by Yashaswini Swamynathan and Rama Venkat Raman in Bengaluru; Editing by Maju Samuel)

 
The logo of U.S. conglomerate General Electric is pictured at the company's site in Belfort, June 23, 2014.  REUTERS/Vincent Kessler