GE selling distributed power unit for $3.25B
BOSTON (AP) — 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.
seattlepi.com
https://m.seattlepi.com/business/article/GE-selling-distributed-power-unit-for-3-25B-13023456.php
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