GE’s underlying Organizations in Strong Position, says CEO Jeff Immelt

Since the time of announcement, many US and international banks and investors have shown interest, said Chief Financial Officer Jeff Bornstein. He said that their main goal is to monetize the assets as soon as they can.

Last week, the shares have jumped 11% after Immelt revealed his plan to refocus on its industrial heritage. In the first quarter, the consolidated revenue of GE stood at $29.4 billion in the first quarter, down 12% from 2014.

For the first quarter, industrial revenue was $24.4 billion and industrial output was up 9%. If GE Capital results are excluded then GE’s remaining industrial businesses and associated financial units were doing good earning $2.8 billion in the first quarter.

It has been found that GE is selling its GE Capital Real Estate unit to Blackstone Group and other investors for $26.5 billion. GE aims to retain GE Capital Aviation Services and GE Energy.