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General Electric Co is in talks to sell its commercial lighting business to private equity firm American Industrial Partners, Bloomberg said Monday, citing people close to the case.
FILE PHOTO: The logo of Dow Jones Industrial Average-listed company, General Electric, is featured in their GE Aviation subsidiary in Santa Ana, California, USA, on April 13, 2016. REUTERS / Mike Blake / File Photo
Bloomberg announced Monday that General Electric Co. was in negotiations to sell its commercial lighting business to private equity firm American Industrial Partners, citing people close to the case.
The agreement could be announced as early as this week, said Bloomberg at the following address: https://www.bloomberg.com/news/articles/2018-11-05/ge-is-sasa-to-near-sale -of-commercial-lighting -business-to-aip.
GE, which replaced its former chief executive, John Flannery, by intruder Larry Culp last month, dropped out of business to focus on jet engines, power plants and renewables.
GE declined to comment.
American Industrial Partners was not immediately available for comment.
(Report by Arunima Banerjee in Bengaluru, edited by Phil Berlowitz)
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