GE Nears Deal to Sell Industrial-Engines Unit to Private-Equity Firm Advent

General Electric Co. is nearing a deal to sell a unit that makes large industrial engines to firm International for $3 billion or more, people familiar with the matter said, a move that would bring in needed cash for the struggling conglomerate.

A deal, if completed, could be announced on Monday, the people said. Advent appears to have beaten out Cummins Inc. in an auction for the businesses, according to the people.

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