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.