June 25, 2018 / 1:41 PM / 10 months ago

CORRECTED-Advent says to acquire GE's distributed power business for $3.25 bln

(Corrects EBITDA figure to U.S. dollars, not euros, final paragraph)

FRANKFURT, June 25 (Reuters) - U.S. buyout group Advent has agreed to buy General Electric’s (GE) distributed power operations for $3.25 billion, the companies said on Monday.

GE had put the unit, which includes the reciprocating gas engine brands GE Jenbacher and Waukesha up for sale, to bolster its finances.

The deal values the company at about 11.2 times its 2018 earnings before interest, tax, depreciation and amortization of just below $290 million, a person close to the matter said. (Reporting by Arno Schuetze and Hans Seidenstücker Editing by Edward Taylor)

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