PE Firm Advent International Sues GE Over Failed $3B Deal

Law360, London (November 25, 2020, 6:15 PM GMT) -- A private equity firm sued in London over its $3 billion purchase of a General Electric power unit has hit back with its own suit, accusing the conglomerate of making key omissions in financial statements used to evaluate the final price of the deal.  

General Electric agreed to offload its distributed power unit, which makes gas engines, to Advent International in 2018. But the firm said in recently public court documents that GE disguised some financial arrangements in the division's end of year accounts, which means it could end up overpaying.

GE accused Advent International — which has rebranded GE's Distributed...

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