GE Sees Selling Up to $10 Billion in Assets
General Electric Co. said it expects to raise $5 billion to $10 billion from asset sales next year as part of a shift to higher-growth technology and consumer finance businesses.
Chief Executive Jeffrey Immelt said the sales should help GE distance itself from poorly performing businesses while cutting costs.
GE is considering the sale of the life reinsurance business of its Employers Re unit. It also will study whether to sell the property-casualty reinsurance business of Employers Re, Immelt said.
GE shares fell 43 cents to $26 on the NYSE.
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