The price is at $6 billion, and Haier is interested in
Both the lighting business and NBC Universal Pictures may be abandoned.
The home appliance sector may fall 10%-12% this year and sell for between $6 billion and $6.5 billion.
Last year, the plastics business was abandoned and sold to a Saudi company for $11.6 billion.
The GE appliance business, which just celebrated its 100th birthday, is about to die. General Electric Company of the United States announced that it plans to sell or split the household appliance business, which is part of its slow and unstable business plan, which means that GE will completely withdraw from the home appliance market analysts, this is GE. One of the initiatives aimed at reducing the risk of profit business after the disappointing first-quarter results were announced last month, the sale price is more than $6 billion to $6.5 billion. According to sources, some companies including Haier, Samsung and LG are interested in participating in the bidding.
Home appliance business dragged down overall performance
According to Xinhua News Agency, General Electric Co., headquartered in Fairfield, Conn., recently announced that it will sell or spin off its home appliance division. At the same time, other options are being considered, including the establishment of joint ventures and investment in the $7.2 billion sector.
The sale of the subsidiary is one of GE's initiatives to reduce the risk of profitable business after the disappointing first-quarter results were announced last month. Last month, GE released its worst quarterly results in five years. Net income in the first quarter was $4.3 billion, down 6% year-on-year. Earnings per share fell from 48 cents to 44 cents, far exceeding investors. expected. The company said that the main reason for the decline in performance was asset sales failures and financial business losses. In response to the adverse effects of economic cooling, the current strategy of the company's CEO, Immelt, is to abandon the slow-growing consumer business, which has already dragged down the group's long-term profitability targets. Last year, GE received $11.6 billion in revenue from the sale of plastics subsidiaries. Next, General Electric will withdraw from the most volatile areas of the financial services industry, selling its own branded credit card business, CIT railroads and electrical business subsidiaries with a transaction value of approximately $4 billion, with a focus on growth. Fast high-tech business. In addition, the lighting business and NBC Universal Pictures may be the object of sale.
It is reported that the sale plan of the home appliance business has been brewing before the release of GE's first quarterly quarterly report. Goldman Sachs has been engaged in the transaction of home appliance business. The total transaction amount may be between $5 billion and $8 billion, possibly in the future. Dissemination of relevant materials to potential buyers in Europe, Asia or other regions during the week. General Electric is the world's largest manufacturer of electrical and electronic equipment, with six business groups. Last year, General Electric's industrial manufacturing division, including home appliances, generated revenues of $17.7 billion, of which home appliance sales were $7 billion, accounting for approximately $7 billion. 4% of GE's total turnover.
Analysts said GE's home appliance division could fall 10% to 12% this year due to slowing consumer spending, housing construction and downturns, and the department's sales could range from $6 billion to $6.5 billion. More suitable. However, in any possible deal, GE may retain some of the shares in the home electronics company.
Haier or participating in the bidding
The news that GE intends to sell the appliance division is not long before the companies interested in participating in the bidding show, including Italian appliance manufacturer Indesit, South Korea's Samsung and LG Electronics, Sweden Electrolux, Mexico Controladora subsidiary ControladoraMabe And China Haier.
However, as of press time, Haier did not respond to the bidding event. It is worth noting that two months ago, Haier and General Electric announced a global strategic cooperation to jointly nurture the global washing machine market. Haier's high-end refrigerators also selected some of GE's technology. Haier Washing Machine China Marketing Director Ding Laiguo revealed that in addition to technical cooperation, Haier will cooperate with GE in terms of personnel training and factory quality control, and will jointly participate in the formulation of international standards.
Insiders pointed out that Haier's own brand in the United States is unfavorable, which may make it hope to regain its glory through GE. According to the Wall Street Journal, Haier built a factory in South Carolina, USA, to manufacture high-end refrigerators with a price of 2,000 US dollars, changing the cheap image of Chinese brands, but the US sellers in the first few months after the product launch, Only 50 units were sold in 40 stores in the Midwest. Affected by this, Haier recently led the high-end Casadi series refrigerators produced in the United States to return to China.
There is no free lunch in the world. Galanz Yu Yuchang analyzed this report to reporters yesterday. It is very cautious for Chinese household electrical appliance enterprises to go global. Like TCL's acquisition of Thomson, the integration period after merger and acquisition is complicated and various factors are used as capital in different countries. Input-output rules, cross-border communication, and cultural integration, judgments are slightly wrong, and the cost black hole may expand indefinitely.
Xu Mingqi, director of the International Finance Research Office of the Shanghai Academy of Social Sciences, also reminded that if the M&A loss-making enterprises do not have enough ability to control and turn losses into profits, the problem of the capital chain will always become a sword hanging over the M&A enterprises. Listed companies choose international mergers and acquisitions, the capital chain is too long, and the places that are beyond the reach of the company are prone to breakage, and the multi-management has high requirements for the ability of enterprises to integrate. If they are not careful, they will fall into the predicament of loss. Therefore, before the merger, you should ask yourself whether the merger is worthwhile and cannot be internationalized for internationalization.
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