General Electric to sell over $2 bln stake in GE HealthCare
Business
General Electric to sell over $2 bln stake in GE HealthCare
(Reuters) - General Electric Co is offering 25 million of common stock, or an over $2 billion stake, in GE HealthCare Technologies Inc, according to a regulatory filing.
Under the debt-for-equity exchange agreement, GE is expected to exchange 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley, GE HealthCare said in the filing.
Evercore ISI, Morgan Stanley, BofA Securities, Citigroup and Goldman Sachs are joint lead book-runners for the offering.
GE HealthCare made its Nasdaq debut earlier this year after completing its spin-off from GE.
