Finance / United States
A Big Week For GE
July 2008 | In The NewsGeneral Electric (GE) is once again in the news, only this time it isn't selling off divisions. On July 22, GE and Abu Dhabi investment agency Mubadala Development announced that they have agreed to enter into a joint venture (JV). Together the two companies will provide commercial finance in the Middle East and Africa. Under the agreement, each company will invest US$4bn over the next three years. The US$8bn will be leveraged up to five times with debt, giving the JV as much as US$40bn to invest.
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