Immelt Speeds GE Industrial Vision With Sale of Real Estate

April 9, 2015 10:32 PM

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Jeffrey Immelt is poised to take his most sweeping step yet in the years-long effort to pare General Electric Co.’s troublesome ties to financial services.

GE is near an accord to sell a real estate portfolio with assets of about $30 billion, said a person with knowledge of the matter. A deal with Blackstone Group LP and Wells Fargo & Co. for some or all of the holdings could be announced as soon as Friday, the person said.

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