Chuan Mu Linsen and Foshan Lighting bid for GE business transaction value of up to 1 billion US dollars
Reuters quoted people familiar with the matter as saying that at least two Chinese companies are preparing to bid for the remaining lighting assets of General Electric (GE), and the potential transaction value may reach $1 billion. Reuters quoted people familiar with the matter as saying that at least two Chinese companies are preparing to bid for the remaining lighting assets of General Electric (GE), and the potential transaction value may reach $1 billion. Chuan Mulinsen and Foshan Lighting bid for GE lighting business value of up to 1 billion US dollars. One person familiar with the matter said that the two lighting equipment manufacturers headquartered in Guangdong, Mulinsen and Foshan Lighting, are negotiating with the lender for the asset. Potential acquisitions provide funding. GE sent an introduction to the sale process to interested companies on Monday. Another source said that the information memorandum will be released in a few weeks before the first round of bidding. GE CEO John Flannery has announced plans to withdraw $20 billion in assets, including lighting, transportation, industrial solutions, and other areas that have matured this old American giant for decades, and will focus only on Three businesses, including electricity, aviation and healthcare equipment.
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