SALEM, Va.--(BUSINESS WIRE)--April 22, 2003--GE (NYSE: GE) announced today that it signed a letter of intent with Toshiba Corporation for Toshiba to increase its majority interest in the Toshiba-GE joint venture.
The transaction is expected to close in the next two to four months. GE will keep a minority ownership in the US operating company of the JV and will continue to provide sales and service for the JV, in addition to maintaining customer relationships.