Deals
GE Is Preparing $1.5 Billion Sale of Power-Conversion Unit
- Credit Suisse is said to advise on potential divestiture
- Advisers may reach out to PEs, Caterpillar, Schneider and ABB
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General Electric Co. is working with bankers on a possible sale of its power-conversion business, people familiar with the matter said, as the fallen manufacturer attempts to regain its footing by slimming down.
The unit formerly known as Converteam could fetch about $1.5 billion, below the $3.2 billion GE paid for the assets in 2011, said the people, who asked not to be identified as the matter isn’t public. Credit Suisse Group AG is working with GE on the sale process, which could begin as soon as next month and isn’t guaranteed to lead to a transaction, the people said.