General Electric is considering selling its industrial gas engine business in a deal possibly worth $2 billion, sources familiar with the matter told Reuters.
Here are four things to know about the potential deal.
1. GE tapped Citigroup to prepare a sale process for its industrial gas segment, according to the sources, who asked to remain unidentified due to the confidentiality of the matter.
2. Talks of a sale come after John Flannery, CEO of GE, told analysts and investors last month splitting up the company was a possibility.
3. GE's profit dropped 45 percent last year, dragged down by lower sales in its power plants and services. Selling GE's industrial gas engine arm could help streamline the company's power division, Reuters reports.
4. A GE spokesperson declined Reuters' request for comment. A Citigroup spokesperson did not immediately respond to the publication's request for comment.
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