NEW YORK (TheStreet) --General Electric (GE) keeps surprising investors in ways it hopes will build excitement and loyalty. Most recently it won the energy business of French engineering conglomerate Alstom, a deal that GE snatched from the jaws of its German competitor Siemens (SI).
But CEO Jeff Immelt is looking beyond that. He wants to make good on his plan to transform GE from a finance-focused labyrinth into a heavyweight of the industrial equipment universe. The Alstom transaction is just one component of that transformation.
By spinning off its credit card business, Synchrony Financial, via an initial public offering later this year GE lowers its dependence on profits from its finance division to a target of less than 25% by the beginning of 2016 from 45% in 2013.
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