• Advent takes over GE distributed power unit for $3.25 billion

    20 days ago - By Reuters

    NEW YORK/FRANKFURT - U.S. buyout group Advent agreed to buy General Electric Co's distributed power unit for $3.25 billion, the companies said on Monday, marking GE's exit from a growing segment of the power business.
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  • GE is selling off its power business as it prepares to leave the Dow

    GE is selling off its power business as it prepares to leave the Dow

    20 days ago - By Business Insider

    General Electric is selling off its power generation business to a private equity firm for $3.25 billion.
    The move is a continuation of new CEO John Flannery's plan to downsize the industrial giant's footprint and return it to its former glory.
    Shares of GE fell about 1.5% in trading Monday, and are down 28% since the beginning of 2018.
    GE will be replaced by Walgreens Boots Alliance in the Dow Jones industrial average on Tuesday.
    Follow GE's stock price in real-time here.
    General Electric , which will leave the Dow Jones industrial average on Tuesday , will sell off its distributed power...
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  • GE is selling off its power business as it prepares to leave the Dow

    GE is selling off its power business as it prepares to leave the Dow

    20 days ago - By Business Insider

    General Electric is selling off its power generation business to a private equity firm for $3.25 billion.
    The move is a continuation of new CEO John Flannery's plan to downsize the industrial giant's footprint and return it to its former glory.
    Shares of GE fell about 1.5% in trading Monday, and are down 28% since the beginning of 2018.
    GE will be replaced by Walgreens Boots Alliance in the Dow Jones industrial average on Tuesday.
    Follow GE's stock price in real-time here.
    General Electric , which will leave the Dow Jones industrial average on Tuesday , will sell off its distributed power...
    Read more ...

     

  • Advent to acquire GE's distributed power business for $3.25 billion

    20 days ago - By Reuters

    FRANKFURT - U.S. buyout group Advent has agreed to buy General Electric's distributed power operations for $3.25 billion, the companies said on Monday.
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  • GE selling distributed power unit for $3.25B

    20 days ago - By Chron

    BOSTON - GE is selling its distributed power unit to Advent International for $3.25 billion as it continues to shed businesses.
    The deal includes distributed power's Jenbacher and Waukesha engines and manufacturing sites in Austria, Canada and the U.S.
    The distributed power business had 2017 sales of $1.32 billion and has about 3,000 workers.
    The deal is expected to close by the fourth quarter.
    GE Chairman and CEO John Flannery was tasked last year with reshaping the Boston company. GE has shrunk dramatically since it became entangled in the financial crisis a decade ago, and Flannery has...
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  • Advent says to acquire GE's distributed power business for $3.25 billion

    20 days ago - By Reuters

    FRANKFURT - U.S. buyout group Advent has agreed to buy General Electric's distributed power operations for $3.25 billion, the companies said on Monday.
    Read more ...