Wednesday, July 23, 2008

GE's linkup with Abu Dhabi helps offset firm's woes at home

Original Article

GENERAL ELECTRIC may be struggling at home. But the U.S. conglomerate has certainly redeemed itself in the Gulf by tying up with Abu Dhabi's ruling Al Nahyan family. The arrangement has so many advantages that there's no need to refer to GE's Six Sigma management manual to call it a "no-brainer."

The financial arm of GE will create a joint venture with Mubadala Development Co., the sovereign fund established by the emirate to invest surplus cash generated by its enormous oil wealth. In the next three years, each side will invest $4 billion, add leverage and use the funds to ...

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