GE Close To Reaching Deal For Appliance Business, Report Says

General Electric Co. and the Swedish company Electrolux AB are close to reaching a deal on the sale of GE’s Louisville-based appliance business, according to a report this week by Reuters.

Reuters cites sources familiar with the negotiations and says an announcement could come as early as next week. Reports in July rumored that GE was considering selling its appliance business.

According to Reuters, the deal could be worth more than $2.5 billion.  Electrolux is the world’s second-largest home appliance maker after Whirlpool.

GE considered separating from its appliance business in 2008, but then invested heavily in production at Appliance Park.