GE announced that it has sold it’s distributed power business to a private-equity firm Advent International Corp for the value of $3.3 billion. Think that this is a sign that the company leadership has started their reorganization plan in an effort to keep the company afloat. We should be seeing more selloffs like this in the near future.
https://www.businesswire.com/news/home/20181106005236/en/INNIO-Completes-Carve-out-General-Electric-Emerges-Stand-alone
Reorganization is inaccurate and way too kind. They are selling divisions, splitting up because they are out of cash. BTW they are not getting top $ for these sales. I predict a total break up of GE - the diversity of the holdings do not work anymore. Too many vastly different businesses that are unrelated and make no sense anymore to keep bundled together. And no management team able to understand them all and run them all. Smaller companies starting up kicking GE butt. The leadership team has been treating GE as if it was a WS hedge fund for the past 10 years, the only skills they have (and not very strong skills). Zero knowledge of how things are made and zero interest in making things. So doesn't mean everyone will get laid off - more likely working at a different company in a few years. They are trying to sell not shore up the divisions.
OP is a complete mo--n.
"Think that this is a sign that the company leadership has started their reorganization plan..." (Eyes rolling.)
The sale of DP was hammered out long ago and is old news. It and has nothing to do with current leadership. What was announced here is merely a pro-forma closing of the transaction.
Thats unfair man, i heard they paid at least 4.99 dollars
Advent International also owns Bojangles Famous Chicken and Biscuits. Good job adding a mediocre distributed power business to that portfolio.