Storied General Electric to split into 3 public companies

By AP News

Share:

General Electric is splitting itself into three public companies focused on aviation, healthcare and energy.

FILE - In this June 26, 2018, file photo the General Electric logo appears above a trading post on the floor of the New York Stock Exchange. GE Appliances announced plans Thursday, Oct. 28, 2021, to add more than 1,000 jobs at its sprawling Kentucky operations as part of a $450 million investment to boost capacity and launch new products. (AP Photo/Richard Drew, File)

General Electric is splitting itself into three public companies focused on aviation, healthcare and energy.

The company said Tuesday that it plans a spinoff of its healthcare business in early 2023 and of its energy segment in early 2024. GE anticipates keeping a 19.9% stake in the healthcare unit.

The company expects one-time separation, transition, and operational costs of approximately $2 billion related to the actions.

GE, based in Boston, also announced that it foresees lowering its debt by more than $75 billion by the end of the year.

Share:

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.