GE closes $4.6bn of deals to build up its business…

first_img General Electric (GE) yesterday made a pair of major acquisitions despite being spurned in a third attempt to buy a UK oil firm, as the largest US conglomerate builds up its energy and finance arms.GE reached a $3bn (£1.9bn) deal to buy Dresser, a maker of gas engines used by oil and gas production firms. “Dresser has a global franchise and brand with 60 per cent of sales outside of North America, which will be accelerated by GE’s global footprint,” said John Krenicki, a GE vice chairman of its energy infrastructure division.Its GE Capital finance arm, which had been its weakest point through the recession had bought $1.6bn of retail credit assets from Citigroup.GE has been an active acquirer over most of the past decade, and chief executive Jeff Immelt has said the company will focus on deals sized at $1bn to $3bn in areas that complement its core industrial and finance businesses. The company is in the process of selling its NBC Universal media business to the biggest US cable operator Comcast.The payoff of the company’s latest round of deals is yet to be seen, said senior portfolio manager Peter Klein at Fifth Third Asset Management. Wednesday 6 October 2010 7:54 pm whatsapp KCS-content GE closes $4.6bn of deals to build up its business… Show Comments ▼center_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULLlast_img read more