GE: sells distributed power unit
(CercleFinance.com) - General Electric said on Monday that it had sold its distributed power business, which makes industrial gas engines, to US private equity firm Advent International for 3.
25 billion dollars.
The transaction includes reciprocating gas engines, power equipment and services focused on power generation and gas compression businesses, comprising several manufacturing sites in Austria, Canada and the US.
The unit has approximately 3,000 employees and three main facilities located in Austria, the US and Canada.
The transaction is expected to be closed by the fourth quarter of 2018, GE said.
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25 billion dollars.
The transaction includes reciprocating gas engines, power equipment and services focused on power generation and gas compression businesses, comprising several manufacturing sites in Austria, Canada and the US.
The unit has approximately 3,000 employees and three main facilities located in Austria, the US and Canada.
The transaction is expected to be closed by the fourth quarter of 2018, GE said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.