United Technologies Corp. Weighs $1 Billion Pratt Asset Sale-Reuters

Reuters reported that United Technologies Corp. is looking to sell power generation assets within its Pratt and Whitney subsidiary in a deal that could fetch around $1 billion, according to three people familiar with the matter. The business, called Pratt & Whitney Power Systems, manufactures industrial gas turbines and geothermal power systems based on Pratt & Whitney's aircraft engine technology, and helps generate electricity for businesses and cities. Deutsche Bank is advising United Technologies on the potential divestiture, one of the people said. The potential sale is part of the diversified industrial conglomerate's effort to focus more on the aerospace and propulsion segments and move away from businesses that are not seen as core, according to the people familiar with the matter.