The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
General Electric Co. is moving closer to a sale of its industrial gas-engine business for more than $3.5 billion after narrowing the list of bidders, according to people familiar with the matter.
Manufacturers Cummins Inc. and Kohler Co., as well as a group comprised of investment firms KKR & Co. and B&C Industrieholding GmbH, advanced to the next round of bidding, said the people, who asked not to be identified because the discussions are private.
The final pool hasn’t been determined and may still include other bidders, the people said. An initial bid had also been submitted by marine-engine producer Wartsila Oyj, the people said.
Representatives for GE, Cummins, Kohler and B&C Industrieholding declined to comment.