General Electric to break up into 3 independent companies


And the news coming from us where industrial conglomerate general electric, it will split into three public firms as the stored u. s firm.

It seeks to simplify its business and pay down debt. The split marks the end of the 129-year-old conglomerate. That was once the most valuable u.s firm and a global symbol of American business power. The Boston-based de said three businesses would focus on energy, health care, and aviation GE will Separate healthcare company in which it expects overall, to retain sake of 19. 9 in early of 23.

It will combine GE, renewable energy, GE Power, and GE digital and spin-off business. In early 24. , following the split it will become an aviation firm helmed by GE, CEO lyrical aviation company will inherit GE's other assets and liabilities, including its runoff insurance business aviation Business.

Usually, it's a cash cow, makes chat engines for Boeing and airbus. However, questions remain over how the company will fund units operations, which tend to be very capital intensive? The company expects to take a one-time charge of 2 billion, linked to separation and operational costs and tax costs of less than 500 million dollars.

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