There has always been confusion since GE Lighting split their lighting business into two parts. Your humble editor thinks of GE Current, a Daintree Company, as the old C+I business and GE Lighting as the Consumer business. It’s not 100% accurate, but it helps me to keep them straight. Both companies are headquartered in Cleveland at Nela Park. GE used to own the property, so we assume that the real estate, was included in the deal to Savant. Following that logic, then the Lighting Institute, would also be owned by GE Lighting, however, it is operated by GE Current. You thought your job was tough, just imagine the employees in their mailroom!
According to the Wall Street Journal, the transaction valued the unit at around $250 million, including assumed liabilities, according to a person familiar with the matter. The deal had an equity value of less than $100 million, this person said.