GE Reportedly In Talks To Sell Its Century-old Locomotive Business To Wabtec

(RTTNews) - General Electric Co. (GE) is in talks to sell its century-old locomotive business to rail-equipment maker Wabtec Corp., Bloomberg reported citing people familiar with the matter.

The report indicated that GE is considering combining its rail division with Wabtec, which has a market valuation of $8 billion, said the people, who asked not to be identified because talks are private. The transportation unit could be worth as much as $6.8 billion in a sale.

A deal hasn't been reached and talks may still fall apart. GE may also choose to pursue an initial public offering or other strategic option for the business, the reports said.