GE to Sell Silicones and Quartz Unit to Apollo Management

Westervelt, Robert; Walsh, Kerri
September 2006
Chemical Week;9/20/2006, Vol. 168 Issue 31, p12
Trade Publication
The article reports that General Electric (GE) has agreed to sell its silicone and quartz business to private equity firm Apollo Management. GE claims it expects to close the deal by the end of 2006, subject to regulatory approvals. GE will retain a 10% ownership stake in the business, and hold $400 million in interest-bearing notes when the deal closes. GE obtained a strong multiple for the business, according to Nicole Parent, analyst with Credit Suisse.


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