General Electric strikes deal to sell portion of GE Lighting

General Electric has agreed to sell a portion of GE Lighting to a company led by a former GE Lighting executive. GE has agreed to sell GE Lighting's business in Europe, the Middle East, Africa and Turkey, as well as its Global Automotive Lighting business. The company previously announced plans to sell both GE Lighting and Current, a unit that spun out from GE Lighting in 2015. The buyer is a company led by Joerg Bauer, who previously served as president of GE Hungary, which is where the business unit being sold is headquartered.