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

U.S. buyout group Advent has agreed to buy General Electric’s (GE) (GE.N) distributed power operations for $3.25 billion, the companies said on Monday. GE had put the unit, which includes the reciprocating gas engine brands GE Jenbacher and Waukesha, up for sale to bolster its finances. The U.S. conglomerate had announced plans to divest about $20 billion in assets as part of a three-year restructuring plan, hoping to book as much as $10 billion in proceeds from selling industrial assets this year. …read more

Source:: Yahoo Finance


Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.