General Electric Co has too much debt and needs to reduce it 'thoughtfully ...
FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company's site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler
On Monday, the company said it would sell its biopharma business to Danaher Corp for $21.4 billion as the industrial conglomerate reduces its debt pile, which stood at $121 billion at the end of December. "We have more options available to us down the line to generate cash to help bring down our leverage, including our remaining interests in Baker Hughes and Wabtec Corporation and continued flexibility for our go-forward Healthcare business," Culp wrote in the letterGeneral Electric has reduced its stake in oil-services firm Baker Hughes and will sell nearly half of its healthcare unit, the company said.
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