GE looking to sell $7bn transportation business

By Pouyan Broukhim

Leading US industrial conglomerate General Electric (GE) is reportedly looking to offload its transportation business in the aim of streamlining its management workload.

According to a report from the Wall Street Journal, GE is exploring hybrid deals with a number of public companies that would include the combining of assets in the aim of avoiding a significant tax hit, in addition to spinning off the unit in an initial public offering (IPO).

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If the company does pursue a hybrid deal, GE shareholders would then own stakes in multiple companies.

The planned sale comes after GE CEO John Flanney announced last year that the company would undertake a significant restructuring plan, looking to shed up to $20bn worth of assets.

GE is reportedly looking to streamline its business with a focus on its three key industry operations – aviation, healthcare and power – whilst selling off the majority of its other operations in the aim of bolstering its waning financial position.

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