GE (GE) agrees to pay $3.2B for a 90% stake in Converteam, a French provider of electrification...

|By:, SA News Editor

GE (GE) agrees to pay $3.2B for a 90% stake in Converteam, a French provider of electrification and automation equipment and systems. GE is buying the stake from management, Barclays Private Equity (BCS) and LBO France. Converteam generated 2010 sales of $1.5B and EBITDA of around $239M. (PR)