Source: Wikimedia/Public Domain
board of directors general electric (NYSE: GE) has approved plans to spin off its energy business portfolio, which will now operate under the “GE'' name. GE VernovaThe company expects the new independent entity to begin trading on the New York Stock Exchange on April 2nd under the ticker symbol “GEV.”
In July 2022, GE will Brand name and logo of listed companies A Boston-based industrial conglomerate planned to split into three separate businesses focused on the aviation, health care, and energy sectors.
The aviation-focused business will also be launched on April 2nd as GE Aerospace, led by GE Chairman and CEO. Lawrence Culpthe conglomerate announced on Thursday.
“Today's announcement paves the way for the historic launch of GE Vernova and GE Aerospace, completing the company's transformation into three independent, investment-grade industry leaders. ” Culpwill become CEO of GE Aerospace.
“Starting April 2, the companies will become fully independent, with GE Vernova positioned to lead the energy transition led by Scott Strzyk and his team, and GE Aerospace to define flight today, tomorrow, and the future. “It was established for the purpose of,” he added.
Shareholders of record as of March 19 will receive one share of GE Bellnova for every four shares of GE common stock they own. Distributions will be made to GE shareholders in the United States in a tax-efficient manner.
Following the planned spinoff of GE Vernova, GE shareholders will continue to own GE Aerospace stock. GE Aerospace will continue to be listed on GE's NYSE under the ticker symbol “GE.”
