GM near deal to sell locomotive unit-sources

Newswire

By Michael Ellis DETROIT, Nov 23 (Reuters) - General Motors Corp. is near a deal to sell its locomotive unit to two private U.S. equity firms, ending more than two years of negotiations, but any agreement is contingent upon a new union contract, sources familiar with the negotiations said on Tuesday. GM agreed to the terms of a joint purchase agreement for its Electro-Motive unit with Greenbriar Equity Group, a $700 million equity fund run by former Chrysler Corp. Vice Chairman Gerald ...

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