General Electric is splitting itself into three public companies focused on aviation, healthcare and energy.
The company said on Tuesday that it plans a spinoff of its healthcare business in early 2023 and of its energy segment in early 2024. GE anticipates keeping a 19.9 percent stake in the healthcare unit.
The company expects one-time separation, transition, and operational costs of approximately USD 2 billion related to the actions.
GE, based in Boston, also announced that it foresees lowering its debt by more than USD 75 billion by the end of the year.
First Published: IST