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GE in talks to sell commercial lighting unit to PE firm - Bloomberg

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GE in talks to sell commercial lighting unit to PE firm - Bloomberg

GE in talks to sell commercial lighting unit to PE firm - Bloomberg
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Mike Blake(Reuters)
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(Reuters) - General Electric Co <GE.N> is in talks to sell its commercial lighting business to private equity firm American Industrial Partners, Bloomberg reported on Monday, citing people familiar with the matter.

The deal could be announced as soon as this week, Bloomberg reported https://www.bloomberg.com/news/articles/2018-11-05/ge-is-said-to-near-sale-of-commercial-lighting-business-to-aip.

GE, which replaced its former chief executive officer, John Flannery, with outsider Larry Culp in a surprise move last month, has been shedding businesses to focus on jet engines, power plants and renewable energy.

GE declined to comment.

American Industrial Partners was not immediately available for comment.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Phil Berlowitz)

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