Electrolux, the Sweden-based company that makes Frigidaire refrigerators, Electrolux vacuums and other home appliances, has agreed to pay $3.3 billion for General Electric's 12,000-worker home appliance business, including its factory center at Appliance Park in Louisville, Ky., reports the Louisville Courier-Journal here.

The deal makes Electrolux the top rival to Whirlpool (which owns Maytag, KitchenAid, Jenn-Air and others) for leadership of the U.S. home appliance market, says Bloomberg here.  Electrolux will keep using the GE brand under a 40-year deal. Electrolux statement here.