GE says not seeking sovereign-wealth investment

Thu Nov 20, 2008 9:20am EST
 
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NEWTON, Mass., Nov 20 (Reuters) - U.S. conglomerate General Electric Co (GE.N) said on Thursday it has no intention of raising additional capital from sovereign-wealth funds.

The company is in talks with Asian investment vehicles about possible joint ventures similar to a deal reached earlier this year with Abu Dhabi investment agency Mubadala Development Co, said GE spokesman Russell Wilkerson.

"With the success of our existing global partnerships, we are always talking to a variety of funds and third parties about new opportunities," Wilkerson said in an email. "We are not talking with any sovereign wealth funds or other global investment funds about a capital investment in the company."

An earlier report in the Financial Times Deutschland newspaper said the company was in talks with Singapore's Temasek and GIC, as well as China's CIC and Safe, about capital investment in GE and joint ventures. (Reporting by Scott Malone)

 
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