GE to buy 15% of China XD Electric

Market Watch Tuesday 8th May, 2012

-0.10% is set to buy a 15% stake in the company as part of an alliance to build and upgrade electrical infrastructure worldwide. In a joint statement announcing the deal, GE didn't disclose how much it would pay for its stake in the Chinese group, although a Reuters report put the figure at $535 million. As part of the agreement, a representative from GE will be appointed to the board of XD Electric, according to the statement. Shares of China XD...

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