GE’s Pivot From Finance Sets Up Immelt for Industrial Deals

Jeffrey Immelt, poised for the biggest restructuring push on his watch at General Electric Co., is plotting acquisitions to complement an industrial portfolio spanning jet engines to locomotives to oilfield equipment.

With GE planning to sell the bulk of the GE Capital unit, Immelt said he will spend as much as $5 billion a year to expand the manufacturing units. GE’s chief executive officer is getting a start on building up cash for purchases and stock buybacks with a $26.5 billion plan to dispose of real estate assets.