GE Reportedly Nears Sale Of Commercial Lighting Business To AIP

(RTTNews) - General Electric Co. (GE) is in talks to sell its commercial lighting division to American Industrial Partners, according to people familiar with the matter, as the manufacturer continues on its divestiture blitz.

GE and AIP could announce a deal for the unit, which is known as Current, Powered by GE, as early as this week, said the people, who asked to not be identified because the matter isn't public. The deal hasn't been finalized and could still fall through, they said.

The Boston-based company has announced at least $10 billion in asset sales over the last 12 months, including its century-old rail business in May. The company sold the bulk of its international and automotive lighting businesses earlier this year.