(Reuters) – U.S. industrial conglomerate General Electric (GE.N) has reached a deal to sell parts of its overseas lighting business to a company controlled by former executive Joerg Bauer for an undisclosed amount.
Bauer most recently served as President of GE Hungary where GE Lightings Europe, Middle East, Africa and Turkey business is headquartered, the company said in an emailed statement.
The deal, which marks the first step in the divesture of the lighting business, includes GE Lighting in Europe, the Middle East, Africa and Turkey, along with its Global Automotive Lighting businesses.
The remaining pieces of GE Lighting, as well as the Current, will now be marketed as part of a separate sale or sales, the company also added.
The li…
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