US conglomerate “General Electric Co.” (GE) on Tuesday officially completed its split into three separate publicly traded companies, each of which will focus on different areas.
GE announced the division into three companies in November 2021, expecting to implement it in several stages.
In 2023, the company “GE Healthcare” was established, which combines all activities related to the healthcare industry.
Meanwhile, GE’s official split is set to close on Tuesday, creating GE Vernova, which will operate in the energy sector, and GE Aerospace, which will be the new name of the former GE.
The shares of these companies will be listed on the New York Stock Exchange, one company will be included in the “Nasdaq” index, and the other two – in the “NYSE” index.
A holding company will not be established, and all three companies will publish their financial results independently of each other.
“As independently managed companies, they will be better positioned to deliver long-term growth and create value for customers, investors and employees,” GE explained in 2021 when the plan was announced.
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