GE refused to sell a division of Electrolux household appliances production

Moscow. December 7. American concern General Electric (GE) has terminated the agreement with the Swedish firm Electrolux AB on the sale of her units for the production of home appliances due to the unwillingness of regulators to approve the deal, according to a press release from Electrolux.

“We are upset that the acquisition will not take place, however, sure that we have enough opportunities for business development and strengthening positions on the market of electrical appliances”, the statement said Electrolux.

The value of the transaction, reported in September last year, was estimated at $3.3 billion But the U.S. justice Department earlier after the court blocked the merger, arguing the decision by concerns about the weakening of competition in the market.