general electric co (GE) Key Developments
PZU Reportedly Seeks To Acquire Three Large Caps
Apr 24 15
Powszechny Zaklad Ubezpieczen Spólka Akcyjna (WSE:PZU) is reportedly interested in acquiring Alior Bank Spólka Akcyjna (WSE:ALR); Raiffeisen Bank Polska S.A., PKP Energetyka Sp. z o.o. and also a unit of General Electric Company (NYSE:GE).
Siemens Reportedly Plans To Bid For Assets Of Halliburton
Apr 24 15
Siemens Aktiengesellschaft (DB:SIE) is reportedly planning to bid for the assets of Halliburton Company (NYSE:HAL) worth up to $10 billion. As per the report, the other potential bidders are General Electric Company (NYSE:GE), Emerson Electric Co. (NYSE:EMR) and Danaher Corp. (NYSE:DHR). Halliburton and Baker Hughes Incorporated (NYSE:BHI) ought to sell up to four businesses in order to get regulatory approval for their $34.6 billion merger.
SunTrust, Apollo, Ares Reportedly Eyeing GE’s Buyout-Lending Unit
Apr 24 15
Potential suitors are eyeing unit of General Electric Company (NYSE:GE) (GE). Bloomberg reported, citing people with knowledge of the matter as saying that SunTrust Banks, Inc. (NYSE:STI), Apollo Global Management, LLC (NYSE:APO), and Ares Management, L.P. (NYSE:ARES) are considering offers for buying GE’s unit that lends to private-equity firms in the United States. The news report mentioned that GE is working with Citigroup to sell the business, expected to be worth $10 billion. The division is among the $200 billion of assets put up for sale in April 2015. GE is also working with Bank of America Corp on a separate sale process for its European private equity-lending arm, which has about $6 billion in loans, Bloomberg report mentioned. According to the news report, Sue Bishop, a GE Capital spokeswoman, declined to comment. On Monday, Reuters reported that GE is in early-stage talks with Wells Fargo & Company (NYSE:WFC) for selling its $74 billion U.S. commercial lending and leasing portfolio.
GE Announces Clarke Energy as Diesel Engine Distributor for Australia, Nigeria and India
Apr 22 15
Seeking to ensure regional customer sales and services excellence for its growing diesel engine technology portfolio, GE's Distributed Power business has signed an agreement with Clarke Energy to serve as GE's first authorized distributor for diesel sales and services with responsibility for stationary power generation in Australia, Nigeria and India. The agreement comes as GE continues to rapidly expand its reciprocating engines technology offerings. In 2014, GE's Distributed Power business introduced its new 2.6-megawatt (MW) 616 diesel engine and also integrated GE Transportation's proven 228 and 250 diesel engine product lines for stationary power generation into its growing diesel engine portfolio.
Advanced Power Selects GE to Supply Two Highly Efficient and Flexible 7F.05 Gas Turbines
Apr 22 15
Advanced Power has selected GE to supply two highly efficient and flexible 7F.05 gas turbines, one D650 steam turbine and its patented Rapid Response combined cycle system for the 700 megawatt Carroll County Energy Project in northeast Ohio. GE has also secured a 20-year services agreement for the project. The combined cycle gas power plant will have the capacity to power the equivalent of 750,000 U.S. homes. GE’s advanced gas turbine technology operates at a higher level of efficiency than coal power to help meet lower emissions requirements in the U.S. The new electric generating facility will provide capacity and energy to PJM Interconnection, a regional transmission organization that helps ensure the reliability of the high-voltage electric power system serving 61 million people in 13 states and the District of Columbia. The GE gas turbines will be built at the company’s Greenville, South Carolina, facility, and steam turbine will be built at the company’s Schenectady, NY facility. Bechtel will build the Carroll County Energy Project and EthosEnergy will operate the facility. The first of GE’s 7F.05 units are currently operating at PP12 in Saudi Arabia.