General Electric (GE.N), Siemens AG (SIEGn.DE) and private equity group Carlyle Group are among the bidders for South African equipment repair firm Savcio Holdings in a potential $500 million deal, a person familiar with the matter said. Swiss engineering firm ABB Ltd (ABBN.VX) had also been involved in bidding for the Johannesburg-based company, but its current interest is unclear, said the person, who declined to be identified because the information is not yet public. Private equity firms Actis and Ethos Private Equity are looking to sell their combined controlling stake in Savcio, as are its minority shareholders, the person said. There has already been one round of bidding, with the second round due by early July, the person said. Savcio has an enterprise value, or combined debt and equity, of $400 million to $500 million, the person said, making the deal a substantial one for South Africa's growing private equity market.
General Electric Company (GE) is a technology and financial services corporation. Shares of GE remained unchanged at $18.48. In the past year, the shares have traded as low as $13.75 and as high as $21.65. On average, 53431500 shares of GE exchange hands on a given day and today's volume is recorded at 0.
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