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GE to Sell LED Business as Part of Restructuring Plan

Andrew Brunton
GE to Sell LED Business as Part of Restructuring Plan

General Electric (GE) registered its first gains yesterday after nine consecutive days of falling. Yesterday, the company announced it agreed to sell its Current lighting division to private equity firm American Industrial Partners (or AIP) for an undisclosed amount. The recently announced divestment is a part of GE’s massive business restructuring plan announced in June this year under which it plans to offload its struggling lighting business completely.