The embattled industrial conglomerate has been examining different ways to offload the division over the last six months, the report said. Valued at about $7 billion, GE Transportation could become a model for how the company will trim its management load without directly selling assets, the Journal reported.
CEO John Flannery promised shareholders in October that the company would sell $20 billion in assets as a part of its ongoing restructuring. The conglomerate most recently announced plans for private equity firm Veritas Capital to acquire a GE health-care unit for $1.05 billion in cash.
Speaking Wednesday at CNBC’s Net/Net event, Flannery said he is focused on restructuring GE around three…
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