February 15, 2018 / 11:26 PM / a year ago

GE moves to sell part of overseas lighting business - WSJ

Feb 15 (Reuters) - General Electric has reached a deal to sell parts of its overseas lighting business to a company controlled by Joerg Bauer, the former president of GE Hungary, for an undisclosed amount, the Wall Street Journal reported on Thursday.

The deal includes GE Lighting in Europe, the Middle East, Africa and Turkey, along with its Global Automotive Lighting businesses, the Journal reported. on.wsj.com/2Coo7Q7

GE has been preparing to sell the lighting business, one of its oldest businesses, as part of a broad restructuring plan aimed at shedding $20 billion worth of assets and focus the remaining company on three core divisions: power, aviation and health care.

GE was not immediately available for comment.

Reporting by Parikshit Mishra in Bengaluru; Editing by Arun Koyyur

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