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General Electric Co (GE.N)

GE.N on New York Stock Exchange

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27 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Noble Corp announces partnership with GE
8:00am EDT 

General Electric Co : Noble Corporation-announces partnership with GE to collaborate on advanced data analytics system for offshore drilling rigs .Noble Corporation Plc - agreement calls for GE to initially deploy its digital asset performance management system on 4 Noble drilling rigs.  Full Article

Greencoat UK Wind buys Langhope rig wind farm from GE unit
3:45am EDT 

Greencoat UK Wind Plc : Acquisition of Langhope rig wind farm .Acquired Langhope rig wind farm from GE unit, GE Energy Financial Services, for a total consideration of 39.8 mln stg.  Full Article

General Electric says co and Sarawak Energy sign multiyear deal in Malaysia
Friday, 24 Mar 2017 08:22am EDT 

General Electric Co :Co and Sarawak Energy sign multiyear deal in Malaysia for Tanjung Kidurong Power Station, Bintulu.  Full Article

GE sets industrial unit 2017 operating profit target of $17.2 bln
Wednesday, 22 Mar 2017 09:16am EDT 

General Electric Co : General Electric Co - to set an industrial operating profit target of $17.2 billion for 2017 . General Electric Co - company is also targeting reduced industrial structural costs of $22.9 billion for 2018 . General Electric Co - increased its targeted reduction in industrial structural costs from a total of $24.9 billion in 2016 to $23.9 billion for 2017 . General Electric Co - based on discussions with Trian Fund Management, set an industrial operating profit target of $17.2 billion for 2017 . General Electric Co - company's board of directors modified performance framework for members of company's executive management team . General Electric Co - if neither of 2017 industrial operating profit target & industrial cost targets for achieved, bonuses will be decreased by 20% . General Electric Co - modified performance framework for executive management team so that 2017 bonuses will be increased or decreased based on achievement of targets .General Electric Co - for 2018, will review performance framework with goal to "further align incentives around most critical financial metrics".  Full Article

GE Transportation, DB Cargo to digitize 250 locomotives across Germany,U.K.,France,Poland
Wednesday, 15 Mar 2017 10:00am EDT 

GE Transportation:DB Cargo, GE transportation signed agreement to digitize 250 locomotives across Germany, U.K., France, Poland over next five years.  Full Article

Suez Environnement enters into binding agreement to purchase GE Water
Wednesday, 8 Mar 2017 01:20pm EST 

Suez Environnement Company SA : Will acquire along with CDPQ, in a 70/30 joint venture, 100% of GE Water . Enters into binding agreement to purchase GE Water & process technologies (“GE Water”) from General Electric Company for 3.2 billion euros ($3.37 billion) enterprise value in an all‐cash transaction . EPS accretive and positive free cash flow from year one ; double‐digit EPS accretion based on run‐rate cost‐synergies . Has a fully underwritten bridge financing in place for the transaction, contemplated to be refinanced through : a long‐term senior bond for c. 1.1 billion euros . Has a fully underwritten bridge financing in place for the transaction, contemplated to be refinanced through : hybrid bonds for c. 0.6 billion euros . Fully underwritten bridge financing to be refinanced through: capital increase of c. 0.75 billion euros; co main shareholders, confirmed intent to participate in the capital increase for their prorata share . Fully underwritten bridge financing to be refinanced through: c. 0.7 billion euros equity provided by CDPQ . Full benefit of cost and revenue synergies realized by year 5 . By year 5: 65 million euro impact on EBITDA from identified annual run‐rate cost synergies (of which 80 pct achieved in year 3) . By year 5: 200 million euro of revenue synergies per year . By year 5: iplementation costs, spread over 2017‐19, equal to one year of cost synergies.  Full Article

GE, Caithness announce power plant deal that could exceed $1 bln
Wednesday, 8 Mar 2017 08:45am EST 

General Electric Co : GE & Caithness announce innovative power deal that could exceed $1b to build multiple HA combined-cycle power plants in US . General Electric Co - agreement is expected to be effective March 31, and plants are projected to be developed throughout 2017 and 2018 . General Electric Co - equipment package that GE will deliver as part of agreement has a total value that could exceed $1 billion. . General Electric Co - this agreement will add to Caithness's growing fleet of ha gas turbines --bringing its total number to up to eight turbines . General Electric Co - expects to record orders for equipment and services over next 24 months . General Electric Co - GE expects to provide multi-year service agreements for continued maintenance and operation of each plant .GE - package configured to include up to 6 high-efficiency ha gas turbines, 6 steam turbines, 6 heat recovery steam generators and other equipment.  Full Article

GE, Baker Hughes get expected requests for additional information from DOJ
Monday, 6 Mar 2017 04:15pm EST 

General Electric Co : GE and Baker Hughes receive expected requests for additional information from the DOJ . Says GE and Baker Hughes have been working cooperatively with DOJ as it conducts its review of transaction . Says "second requests were issued under Hart-Scott-Rodino antitrust improvements act of 1976, as amended" . Says co, Baker Hughes have each received request for additional information from DOJ in connection with co's pending deal with Baker Hughes . Says effect of second requests is to extend waiting period imposed by Hart-Scott-Rodino act until 30 days after co, Baker Hughes comply with requests .Says GE and Baker Hughes expect transaction to close in mid-2017.  Full Article

Suez CEO says more confident now than at start of 2016
Wednesday, 1 Mar 2017 04:50am EST 

Suez Sa : Suez says knows GE water well, both companies have talked a lot about industrial cooperation in the past - ceo of suez . Suez says sees gradual pickup in european waste volumes . Suez ceo says more confident now than at start of 2016 .Suez shares down 3 percent after company posts 3.6 percent fall in 2016 ebitda.  Full Article

Suez targets 150 mln euros in cost cuts this year
Wednesday, 1 Mar 2017 02:00am EST 

Suez Says Interested In General Electric's : Suez ceo says will keep looking for opportunities in latin america . Suez ceo says 2017 will be transformation year . Suez says GE water business in line with its strategy . Suez says GE interesting because of presence in smart water, international activities . Suez says any acquistion will be in line with its financial discipline targets . Seuz ceo chaussade says for 2017 we target 150 million in cost cuts . Suez ceo says does not believe in major merger that would involved alliance with veolia .Suez says size is not a target in itself.  Full Article

More From Around the Web

BRIEF-Noble Corp announces partnership with GE

* Noble Corporation-announces partnership with GE to collaborate on advanced data analytics system for offshore drilling rigs