The companyexpects the sale to generate after-tax proceeds of about $400 million while itwill also incur a post-tax loss of around $100 million in the first quarter dueto the write-off of non-deductible goodwill as a result of the deal.
Fundsraised from disposal of the unit, which earned revenue of $355 million in 2012,will be used to partially finance share buybacks.
Thetransaction is expected to close later this year subject to regulatoryapproval.
GE
