General Electric Co. plans to auction off its Louisville, Ky.-based appliances business, The Wall Street Journal reported today.
GE has hired Goldman Sachs Group Inc. to run an auction for the appliance division, according to the newspaper. The sale could yield between $5 billion and $8 billion, the Journal reported.
Spokesmen for GE and Goldman Sachs did not comment.
GE entered the appliance business in 1907. Revenue for GE’s Louisville-based industrial business, which includes appliance manufacturing, was nearly $17.73 billion in 2007, down slightly from $17.74 billion in 2006.