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  • Date of publication: 31 August 2020
  • 2104
  • businessbuysale.com
  • General Electric sold one more of its division for $ 3.25 billion

    Synopsis

    We are talking about the division for the production of gas engines and equipment for energy

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Description

We are talking about the division for the production of gas engines and equipment for energy

 

The Advent International investment fund purchases a division of the US company General Electric (GE), which produces gas engines and equipment for energy, for $ 3.25 billion. Jenbacher and Waukesha engines, as well as factories in the US, Canada and Austria fall into the field of the deal.

General Electric noted that the sale of this unit is part of a three-year restructuring program for GE, which provides for the sale of non-key assets for a total of $ 20 billion.

Last month, General Electric announced the merger of its transport division with Wabtec. The company expects that this deal could bring GE $ 2.9 billion.

Recall that in September 2017 GE sold its division of industrial solutions to General Electric company ABB. The deal amounted to $ 2.6 billion.

Last week it became known that GE was excluded from the Dow Jones index, because the stock quotes of companies lowered the company's market capitalization below the level that allows it to be in this index.

 

A source: https://korrespondent.net