Why did GE sell its water business to Suez?
The all-cash sale to French utility Suez SA and a Canadian pension fund manager comes about four months after GE put the water unit on the market amid concerns of regulatory pushback against the Baker Hughes combination.
Why did GE pay $200 million to settle SEC charges?
In December GE agreed to pay $200 million to settle charges by the Securities and Exchange Commission that it had misled shareholders about the deterioration of its insurance and power businesses in the years before its stock price imploded.
Is GE ready to revisit everything to turn its business around?
Now combine this move with the sale of a piece of the healthcare division (arguably the company's "crown jewel" segment) and you create an even bigger statement: GE is clearly willing to revisit everything as it looks to turn its business around.
What is GE doing with its portfolio?
Boston-based GE is overhauling its portfolio to focus on industries such as energy and aviation while tilting away from finance and consumer operations.
Who bought GE Water?
SuezThe French water treatment and waste management company Suez has agreed to buy GE Water & Process Technologies for $3.4 billion.
Is Suez owned by GE?
becomes part of GE. provides us with a totally new product and service offering that addresses the needs of a US$12 billion global industry segment.
Who bought GE Betz?
Hercules, IncM&A Deal SummaryTargetBetz-Dearborn Inc.SectorChemicalsBuyer(s)General Electric CompanySellers(s)Hercules, Inc.3 more rows•Feb 13, 2002
Is GE still a company?
The General Electric Co. (GE), is one of the oldest industrial conglomerates in the U.S. It was founded by Thomas Edison in 1892, under the name Edison General Electric Company. By 2000, it had become the nation's largest company, with a market capitalization of over $600 billion.
Who owns Suez waste?
On the 5th of October 2020, Veolia (Veolia Environnement S.A) acquired a 29.9 per cent interest in Suez (Suez S.A.).
Who owns Suez water?
SUEZVeolia Utility Resources LLCSuez North America/Parent organizations
Will GE ever recover?
General Electric's shares appear to be poised for a rebound, based on an analysis of the stock's sell-side analyst price targets. The mean consensus target price for GE is $124.71, which is +25% higher than the company's last traded share price of $99.95 as of January 6, 2022.
Who took over GE Healthcare?
In June 2017, GE announced Kieran Murphy as the new CEO of GE Healthcare, with former CEO John Flannery's appointment as CEO of GE. In April 2018, GE announced the sale of several healthcare information technology assets for $1.05 billion to Veritas Capital.
What is going to happen to GE?
Big GE Split Caps Long Restructuring In 2024, GE will emerge as an aviation-focused company after a three-way breakup. The American industrial icon plans to spin off its lower-growth health and energy businesses to focus on aviation. The three-way GE split caps years of dwindling profits and a costly restructuring.
Does GE still make water heaters?
G.E. has never sold water heaters under its name, said Mark Reilly, communications manager, G.E. Appliances. The new water heaters will be sold under the company's Smartwater line of products.
Where are GE water softeners made?
However, the GE Water Softener is actually made by GE Appliances, which isn't owned by General Electric at all. In 2016, Haier bought GE Appliances. Haier, a home appliance company in China, actually builds the water softening products and then uses the GE logo to market it.
What does Suez water Technologies do?
We help industries solve their toughest water, wastewater and process challenges. We work with customers across all industries, including food & beverage, metals and mining, power, chemicals & pharma, oil & gas downstream and petrochemicals, upstream oil & gas, pulp and paper, and utilities.
What did GE sell to Danaher?
The most notable transaction of late was GE's sale of a piece of its healthcare division to Danaher for around $21 billion. At the same time, the company still owns a multi-billion dollar stake in Baker Hughes, acquired via a complex merger/spin-off transaction that effectively gave GE a way to exit the oil and natural gas drilling space. The problem is that some industry watchers have suggested that GE's attempt to raise cash by exiting its stake in Baker Hughes looked like a desperate move to escape an out-of-favor sector; meanwhile, the healthcare sale, while providing much-needed cash, led GE to jettison a piece of one of its best-performing divisions.
Who was Jack Welch's successor?
Many in the business and investment communities have given Jack Welch accolades for his time at the helm of industrial conglomerate GE. However, it was under his watch that the company allowed its finance division to stray well beyond its core purpose of helping customers purchase expensive GE products (like jet engines and power turbines) and into things like mortgages. When the Great Recession hit, Welch's successor, Jeff Immelt, was left to deal with the fallout of Welch's actions.
Is GE a leaner company?
At this point, GE is a much leaner company, but the asset sales still aren't over.
