GE Transportation Sale Marks Progress on Portfolio; Minor, but Likely to Curry Investor Favor
In CEO John Flannery’s largest portfolio adjustment to date, General Electric will merge its locomotive manufacturing unit with Wabtec in exchange for $2.9 billion in cash. GE shareholders will own 40.2% of the combined company and GE itself will own 9.9%, which it can sell after a lockup to raise capital. Current Wabtec shareholders retain 49.9% of the new firm. The deal is valued at $11 billion ($10 billion net of tax). GE expects Transportation will produce EBITDA of $0.75 billion in 2018 and...General Electric is a technology industrial company. The company's segments include: Power, which serves power generation, industrial, government and other customers with products and services related to energy production; Renewable Energy, which engineers and manufactures energy equipment and projects, grid solutions and digital services; Aviation, which designs and produces commercial and military aircraft engines, digital components, electric power and mechanical aircraft systems; Healthcare, which provides healthcare technologies; and Capital, which provides financial products and services that build on the company's industry capabilities in aviation, power, renewables, healthcare and other activities.
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