The Biggest Property Deal in the US Since 2007
Property portfolio of General Electric (GE) costs $26.5 billion, which is going to be sold. The reason of selling is the company’s retreat from its property investments globally as it focuses on its industrial operations, BBC reports.
GE expects that "high-value" operations without its properties will bring 90% of earnings after 3 years, which is only 58% for now. Chairman Jeff Immelt said that this major step in the company’s strategy is will focus GE around its competitive advantages.
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