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Storied General Electric to split into 3 public companies

General Electric (Photo: Cincinnati Enquirer)
General Electric (Photo: Cincinnati Enquirer)
Published: Nov. 9, 2021 at 7:23 AM CST
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(AP) -- General Electric is splitting itself into three public companies that concentrate on aviation, healthcare and energy.

The company said 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% stake in the healthcare unit.

The company expects one-time separation, transition, and operational costs of approximately $2 billion related to the actions.