GE Equity

GE Equity to acquire 30% stake in Kerns Aero Products

GE Equity to acquire 30% stake in Kerns Aero ProductsGE Equity, private equity arm of the US-based conglomerate General Electric (GE), has revealed its plan to bought 30% stake in Chennai-based aircraft and spacecraft parts maker Kerns Aero Products for Rs 10 crore.

With latest price consideration, the deal would value Kerns Aero at Rs 33.3 crore.

The company plans to utilize proceeds from the stake sale to fund expansion in the country.