UPDATE 1-GE to sell real estate holdings, sets $50 bln share buyback

April 10, 2015 11:10 AM

63 0

April 10 (Reuters) - General Electric Co said it would sell the bulk of its real estate portfolio to investors including Blackstone Group and Wells Fargo & Co for $26.5 billion, in the biggest commercial real estate deal since 2007.

The company, which has been refocusing on its industrial businesses, also said its board had authorized a share repurchase program of up to $50 billion.

Also read: Disney raises its bid for Fox to $71 billion

Read more

To category page