GE Will Pay $3.2B For Coverteam

GE said it will pay about $3.2 billion for a 90% ownership in electrification and automation equipment maker Converteam, Reuters reported. GE is buying the company from a group of shareholders that includes Barclays Private Equity and LBO France, Reuters said. Converteam's senior management will retain a 10 percent stake in the company.

DealsNorth AmericaUSBriefs