GE sells appliances unit for $3.3B

General Electric Co. announced Monday that it will sell GE Appliances to Sweden's Electrolux AB for $3.3 billion in cash. Under the deal, Electrolux will continue using the GE Appliances brand, according to a MarketWatch report.

"This transaction is consistent with our strategy to be the world's best infrastructure and technology company," said GE Chairman and CEO Jeff Immelt in a statement.

GE also completed a $17 billion acquisition of Alstom SA's energy assets this summer.

Read more from MarketWatch.