STOCKHOLM — Sweden’s Electrolux is buying the appliances business of General Electric for $3.3 billion, boosting its presence on the North American market, the companies said Monday.
The acquisition is the largest ever for Stockholm-based Electrolux, ranked as the world’s second biggest home appliance maker after U.S. rival Whirlpool.
Electrolux shares rose 7 percent to $28.27 in early trading in Stockholm.
GE confirmed last month it was in talks to sell its appliances division.
Read Tuesday’s Arkansas Democrat-Gazette for full details.