Deals and IPOs

GE to sell $3 billion industrial solutions business

General Electric said on Wednesday it would sell its $3 billion industrial solutions business, which makes electrical equipment, as part of a push to focus on its core businesses.

The industrial conglomerate expects to raise about $4 billion from the sale of the unit as well as the previously announced sale of its water business, GE said in an investor presentation.

The industrial solutions business has about 13,000 employees and 30 plants globally.