09 January 2007 00:09 [Source: ICIS news]
HOUSTON (ICIS news)--General Electric is seeking bids on its plastics business, the Wall Street Journal reported on its website on Monday.
Private equity firms and plastics companies have been contacted as potential bidders, according to the newspaper.
GE Plastics is valued at up to $10.0bn (€7.7bn), the newspaper said. Wall Street firm Goldman Sachs Group was acting on behalf of GE in the possible plastics sale.
Goldman Sachs has conveyed bidding restrictions to the potential buyers to comply with new US Department of Justice requirements.
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