Source AFP:

General Electric Co. said Friday that it plans to sell or spin off its iconic appliance business, which has provided refrigerators, air conditioners and ovens for millions of U.S. homes.

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Last year, GE shed its under performing plastics business by selling it to a Saudi Arabian company for $11.6 billion.

The announcement comes two days after media reports first surfaced that GE was planning to auction off the appliance division.

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