N: Quote, Profile, Research) appliance business and is likely to hire an investment bank to help with the deal, the Financial Times reported on Thursday.
The FT reported that senior LG executives had recently returned from a fact-finding mission to the U.S., citing a person familiar with the matter.
An LG spokeswoman on Friday reiterated that LG was monitoring the situation and called the story “speculation.”
Last month, LG’s chief executive said the company was closely watching developments surrounding the potential sale but declined to comment further.
A day later, GE Chief Executive Jeff Immelt named LG, China’s Haier Electronics Group Co Ltd (1169.HK: Quote, Profile, Research), Mexico’s Controladora Mabe, Sweden’s Electrolux (ELUXb.ST: Quote, Profile, Research) and Turkey’s Arcelik ARCLK.IS as contenders to buy its appliance business, which is valued at $4-$8 billion.
