Wuhan Boiler Group is considering acquiring General Electric's (NYSE:GE) controlling stake in a steam power business in China called Wuhan Boiler Co., Bloomberg reports. It's already the the second-biggest shareholder in the firm with a 6.9% stake.
A deal could value GE's holdings at a few hundred million dollars, but deliberations are at a preliminary stage and might not lead to a transaction.
In 2007, Alstom acquired a 51% stake in Wuhan Boiler Co. for about 339M yuan ($51M). Years later, GE bought Alstom's power and grid businesses for about $14.7B and became the controlling shareholder of Wuhan Boiler Co. The unit is currently part of GE's steam business.
