Turkey's Arcelik AS may bid for General Electric Co.'s appliance division, CEO Aka Gunduz Ozdemir said.
Arcelik is considering a bid for the unit, possibly in partnership with a private equity firm, and hasn't made a decision yet, Ozdemir told reporters. Arcelik needs acquisitions to achieve further expansion, he said.
Ozdemir also said that Arcelik and Turkish television maker Vestel Elektronik Sanayi & Ticaret AS may collaborate with an unidentified Taiwanese company to produce components for liquid- crystal display or LCD screens in Turkey.
The plant would cost between $500 million and $600 million, and the companies are in talks with the Turkish government on incentives, he said. (Bloomberg)