Salem Radio Network News Tuesday, December 5, 2023

Business

General Electric to sell over $2 billion stake in GE HealthCare

(Reuters) – General Electric Co is offering 25 million of common stock, or an over $2 billion stake, in GE HealthCare Technologies Inc, according to a regulatory filing on Monday.

Under the debt-for-equity exchange agreement, GE is expected to exchange 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley, GE HealthCare said in the filing.

‚ÄćEvercore ISI, Morgan Stanley, BofA Securities, Citigroup and Goldman Sachs are joint lead book-runners for the offering.

GE HealthCare made its Nasdaq debut earlier this year after completing its spin-off from GE.

 

(Reporting by Raghav Mahobe in Bengaluru; Editing by Maju Samuel)

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