General Electric’s (NYSE:GE) potential sale of $20 billion in assets has the close attention of the private equity world.
Glenn Youngkin, the co-CEO of the Carlyle Group, told FOX Business’ Maria Bartiromo that GE is undergoing a “massive reevaluation” of its overall strategy.
“I think everybody is standing poised and ready to see what their strategic review brings forth as far as what businesses are going to stay in. Whether they stay as monolithic GE or whether they … split into separate companies. But I would say the world of private equity is watching to see what happens there because they are just such a good company,” Youngkin said on “Maria Bartiromo’s Wall Street.”
Sources told FOX Business' Charlie Gasparino that GE’s plans to slim down include an asking price of more than $2 billion for the transportation business in Chicago.
Chief Financial Officer Jamie Miller spoke at an investor conference in Miami organized by Citigroup, but did not go into detail on the company’s plan to shed some of its business units.
The industrial conglomerate’s asset sale would not impact its 2018 cash flow, but may reduce its 2019 cash flow by less than $500 million.