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

Posted online January 15, 2016 | 12:42 pm

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.

Haier manufactures such household goods as washing machines, refrigerators and microwaves.

The sale marks the third-largest acquisition of a U.S. company by Chinese investors.

Read more from CNNMoney.

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