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GE Said to Start Sale Process for Industrial Solutions in March

  • U.S. conglomerate announced plans to divest unit in December
  • Seller of circuit breakers, switchgear valued at $3 billion
A gas turbine from the 1940's at the General Electric Co. Power & Water plant in Greenville, South Carolina, on March 18, 2015.
Photographer: Jason E. Miczek/Bloomberg

GE is preparing to kick off the sale of its $3 billion industrial solutions business in March, people with knowledge of the matter said, as the U.S. conglomerate continues to divest peripheral assets.

While a formal process hasn’t begun yet, the company has tapped advisers to help find a buyer, the people said. GE is likely to gauge interest in the business from ABB Ltd., Schneider Electric SE, Eaton Corp. and Siemens AG, said the people, who asked not to be identified because the information is private.