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Many companies want to bid for GE lighting business or $1 billion

Reuters quoted one of the people said, Linsen and FSL have in the bank and about financing for possible asset acquisition, 

they have been in negotiations with lenders.

GE sent an introductory material on the sale process to an interested company on Monday. Another source said the information

 memorandum would be issued in a few weeks and then the first round of tender.

GE refused to comment. The reporter could not be reached and no Foshan Linsen to immediately respond to a request for comment.

In addition, another source said, OSRAM, Feile xiwannian and many buyers may also be interested in the deal.

In fact, in mid February, GE has already reached an agreement to sell some of its overseas lighting business to a Hungarian State 

Lighting Company. Although the amount of the transaction has not been officially disclosed, insiders said it bought for the bottom price. 

The deal marks the first step in the sale of lighting for GE.

The sale of the remaining lighting business, mainly in the United States, is part of the GE's huge restructuring plan. The plan aims to peel

 off $20 billion worth of assets and focus the remaining companies on three core sectors: electricity, aviation and health care.

It is reported that GE is also seeking to sell its industrial gas engine business, which is likely to be worth up to $2 billion.

Last month, when selling lighting business and global automotive lighting business in Europe, Middle East, Africa and Turkey, GE said that 

other lighting businesses would be sold separately or sold as a whole.

The profits of the lighting business fell sharply last year, according to the earnings published by the previous GE. GE lighting division revenue 

(including GE and Current lighting) 2017 revenue of nearly $2 billion, a profit of $93 million, which is less than $4 billion 800 million in 2016 

and $199 million in the fourth quarter fell to $546 million, compared to the fourth quarter of 2016 to $584 million in 7%.


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