General Electric (GE) has announced plans to split into three separate companies, breaking up into publicly traded groups for its energy, healthcare, and aviation divisions.
The company on Nov. 9 said the GE Power, GE Renewable Energy, and GE Digital groups will be combined into one business, with the company pursuing a tax-free spin-off of this group in early 2024. The company plans to spin off the healthcare business to its shareholders in early 2023. GE will then remain as a company focused on aviation, though it will retain a 19.9% stake in the healthcare group.