China's Haier buys GE's appliance unit for $5.4 billion

Discussion in 'Americas' started by amoy, Jan 15, 2016.

  1. amoy

    amoy Senior Member Senior Member

    Joined:
    Jan 17, 2010
    Messages:
    5,524
    Likes Received:
    1,547
    China's Haier buys GE's appliance unit for $5.4 billion
    by Charles Riley @CRrileyCNNJanuary 15, 2016: 3:47 AM ET

    General Electric has sold its appliance business to Haier for $5.4 billion, a deal that will greatly expand the Chinese firm's footprint in the U.S.
    [​IMG]
    Haier is best known as a manufacturer of household goods including washing machines, refrigerators and microwaves. In recent years, it has sought to expand into new international markets, including the U.S.

    The sale has been approved by the boards of both companies, GE(GE) said.

    Haier said GE's appliance division will remain headquartered in Louisville, Kentucky.

    GE had previously agreed to sell the business to Sweden's Electrolux (ELUXY), but the deal was abandoned after regulators raised antitrust concerns.

    Earlier this week, GE announced it was moving its corporate headquarters from Connecticut to Boston, Massachusetts.

    http://money.cnn.com/2016/01/15/investing/ge-haier-appliances-sale/index.html

    ~~Still waters run deep. ~~from my MiPad using tapatalk
     
    Last edited: Jan 15, 2016
  2.  
  3. amoy

    amoy Senior Member Senior Member

    Joined:
    Jan 17, 2010
    Messages:
    5,524
    Likes Received:
    1,547
    Philips $2.8 bn stake sale in Lumileds blocked over US objections

    AMSTERDAM - Dutch electronics giant Royal Philips said Friday that it has terminated the planned $2.8 billion sale of most of its lighting components and automotive-lighting unit to a Chinese investor, after US regulatory objections.

    The agreement to sell an 80 percent stake in the Lumileds division based in California ran into opposition from the Committee on Foreign Investment in the United States (CFIUS) on national-security grounds, Philips said in a statemen

    http://www.bignewsnetwork.com/news/...e-sale-in-lumileds-blocked-over-us-objections

    -------—---------------------------------------
    Is it ridiculous - a lighting equipment producer becomes a concern of national security?

    Less and less confident Americans, pathetic.

    ~~Still waters run deep. ~~from my MiPad using tapatalk
     

Share This Page