GE buys power equipment firm Converteam for USD3.2bn

Thu Sep 8 2011, 09:33 AM

General Electric (GE) has completed the USD3.2bn acquisition of Converteam from a group of shareholders that includes Barclays Private Equity and LBO France. GE is acquiring a 90% stake in the French firm, with Converteam’s management retaining the remaining 10%. Converteam produces power and automation equipment such as advanced rotating machines, generators, controls and power electronics.

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