GE may sell off industrial engine unit to private equity firm Advent International

GE may sell off industrial engine unit to private equity firm Advent International

General Electric may sell a unit that manufactures industrial engines to a private equity firm, The Wall Street Journal reported on Sunday, as part of a wide ranging effort to revitalize the moribund manufacturing giant. The Journal, citing unnamed sources familiar with the matter, said GE could complete a transaction as soon as Monday that would be worth $3 billion or more. Advent International is said to have topped another firm that also bid on…

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GE nears deal to merge transportation unit with Wabtec, may value combined company at $20 billion, sources tell Reuters

GE nears deal to merge transportation unit with Wabtec, may value combined company at $20 billion, sources tell Reuters

General Electric is nearing a deal to merge its transportation business, which manufactures train engines, with Wabtec, a U.S. maker of equipment for the rail industry, two people familiar with the matter said on Sunday. A deal that could value the combined company at more than $20 billion could be announced as early as this week, the sources said, asking not to be identified because the negotiations are confidential. It would be the biggest deal…

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