Posted on August 10, 2018
By Carl Surran, SA
General Electric (GE -1.1%) is working with bankers on a possible sale of its power conversion business, with a sale process perhaps beginning as soon as next month, Bloomberg reports.
The unit formerly known as Converteam could fetch ~$1.5B, below the $3.2B GE paid for the assets in 2011, according to the report.
GE reportedly could approach P-E firms and companies such as Caterpillar (NYSE:CAT), Schneider Electric (OTCPK:SBGSF) and ABB, but the company will consider all options and could decide to keep the business.
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