International. The Real Estate division of General Electrics (GE) announced that over the next two years it will sell most of its real estate portfolio valued at $30 billion. So far, $23 billion in transactions have already been completed for the sale of assets to Blackstone Group LP and Wells Fargo & Co.
According to GE, this process of selling properties will be carried out worldwide with the aim of focusing its energies and resources on improving the level of profits from its aviaicón, energy and water divisions, as well as other industrial projects, which will represent 90% of its total revenues by 2018.
Within this global restructuring plan, the company will also reduce its number of shares held by the public with a plan to buy back between 8,000 and 8,500 million shares before 2018.
