Electrolux, Quirky in talks with GE over appliance business sale

|By:, SA News Editor

General Electric (NYSE:GE) is in talks with Sweden's Electrolux (OTCPK:ELUXY) and Quirky, a consumer-product development startup, over the sale of its century-old appliances business that could fetch $2B.

Quirky would partner with private-equity firms to acquire a majority stake, leaving GE with a minority holding.

GE has been trying to sell its home appliances unit again as CEO Jeffrey Immelt puts a greater focus on industrial operations.