General Electric's recently announced divestment plan for its finance subsidiary will not include its corporate venturing unit, the company has confirmed.
Industrial conglomerate General Electric’s decision to divest its finance business, GE Capital, will not affect its corporate venturing unit, a representative confirmed to FierceMedicalDevices on Monday.
GE revealed its decision to sell GE Capital last week, and Blackstone Group and Wells Fargo have already agreed to acquire the majority of the unit’s real estate and loans assets for $23bn.
The sale will also include GE’s corporate, life science and real estate finance arms. GE intends to refocus on its core…
