Key Developments For General Electric Company
General Electric Company (GE.N) (New York Stock Exchange)
GE's GE Aviation Acquires Naverus, Inc
GE announced that GE Aviation has acquired Naverus, Inc., a privately owned, Washington based supplier of advanced Performance-based Navigation (PBN) services, including Required Navigation Performance (RNP) procedure development, PBN procedure maintenance, operations support and consulting for airlines, air navigation service providers and airports. The terms of the transaction were not disclosed.
GE's GE Healthcare Introduces Novel Device To Detect Tissue Stiffness
GE announced that GE Healthcare introduced MR Touch, a visual palpation technology that uses low frequency sound waves in combination with MRI to measure tissue elasticity.
Vivendi Close To GE's 80% Owned NBCU Exit-Reuters
Reuters reported that Vivendi is close to selling its stake in GE's 80% owned U.S. media group NBC Universal (NBCU) but its Board has not yet made a decision as the situation is 'complex'. Philippe Capron also told the Morgan Stanley Media & Telecoms conference that selling its 20% stake in NBCU would give Vivendi more 'financial headroom', notably if the company was to seize further acquisition opportunities in emerging countries. GE and Comcast have agreed on a valuation for NBCU of around $30 billion, meaning $6 billion for Vivendi's stake. They have also agreed on the structure of the Board for the proposed joint venture. Vivendi's decision on the future of its 20% stake in NBCU is crucial to plans by GE, which owns the other 80% of NBC Universal, to form a joint venture with Comcast Corp.
Vivendi, GE Iron Out Terms For NBC Universal Stake-WSJ
The New York Times reported that Vivendi is still working out terms with its partner General Electric Co., asking for a higher price and deal protections, as the Company seeks to exit its minority stake in NBC Universal. A sale is still likely to go forward. The Vivendi-GE talks are the last major hurdle in a deal GE has been negotiating with Comcast Corp., in which the U.S. cable operator would take control of NBC Universal. GE currently owns 80% of NBC Universal and Vivendi owns 20%. One issue in the GE-Vivendi talks is how Vivendi would be paid. Vivendi has asked for GE to buy out at least part of its 20% stake before a Comcast deal would likely close. A Comcast deal could take from six months to more than a year to pass muster in Washington. That stipulation would give Vivendi some measure of protection if the Comcast deal does not go through. It is unclear how far apart the two sides are on price. In June, Vivendi valued its 20% stake in NBC Universal at EUR4.26 billion, which works out to $6.3 billion at current exchange rates, according to a securities filing. As part of its talks with Comcast, GE has put a value in the neighborhood of $30 billion on NBC Universal. That would imply a roughly $6 billion value for Vivendi's 20%. As a backup plan, GE has also made preparations for a public offering of at least Vivendi's 20% stake in NBC Universal.
KLM Engineering & Maintenance Selects GE's GE Inspection Equipment
KLM Engineering & Maintenance (KLM E&M) announced that it has selected inspection equipment from GE's GE Sensing & Inspection Technologies to perform non destructive testing on KLM aircraft and associated engines. The small size helps inspectors access hard to reach areas, such as the fuel tank, easier and quicker.
