The Strategist

General Electric plans to split into three companies


11/10/2021 - 09:58



US diversified technology group General Electric (GE) plans to split into three companies responsible for healthcare, energy and aviation, according to a company release.



Tony Webster via flickr
Tony Webster via flickr
"GE today announced its plan to create three industry-leading, publicly traded companies focused on the growth sectors of aviation, healthcare and energy," the company said in a release.

The company notes that GE Healthcare will be established in 2023 and that GE intends to maintain a 19.9% stake in it. The merger of the three units of GE Renewable Energy, GE Power and GE Digital will be responsible for the energy sector. This energy company will become a separate business in 2024. After these deals, GE itself will become an aerospace company.

CEO Lawrence Culp, Jr. said each of the companies will benefit from its narrow focus, individual capital allocation and strategic flexibility.

General Electric is a global diversified company, operating in infrastructure projects, finance and media.

source: bloomberg.com




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