GE focused on spinoff as strategic review process continues

By Lisa Kerner

Charlotte, N.C., July 10 - General Electric Co. said it is focusing on the spinoff of its Appliances, Lighting and Industrial unit to GE shareholders as it continues to explore all options for the company's Consumer & Industrial businesses.

In May, GE announced that a spinoff was a possible outcome of the strategic review of its Appliances division.

"As we explored our options for Appliances, it became clear that the fastest, most efficient step we could take in completing the transformation of our Industrial portfolio would be to focus on a possible spinoff of the entire unit," GE chairman and chief executive officer Jeff Immelt said in a company news release.

"This is consistent with the strategy we have been executing to transform the GE portfolio for long-term growth and makes sense for GE shareholders," Immelt added.

GE is a diversified technology, media and financial services company based in Fairfield, Conn.

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