April 10, 2015 / 10:40 AM / 5 years ago

GE to sell real estate holdings, sets $50 bln share buyback

April 10 (Reuters) - General Electric Co said it would sell nearly all of its real estate portfolio to investors including Blackstone Group and Wells Fargo & Co for $26.5 billion.

The company also said its board had authorized a share repurchase program of up to $50 billion.

The deal is the biggest commercial real estate deal since Blackstone’s acquisition of office landlord Equity Office Properties Trust in 2007 for $39 billion, including debt. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Ted Kerr)

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