GE keeps getting smaller, agrees to sell distributed power unit

Jenbacher diesel engines being loaded at an Italian port in 1949. Source: Getty.

Advent International has agreed to buy General Electric's distributed power business, which makes Jenbacher and Waukesha industrial gas engines, for $3.25 billion.

Why it's a big deal: This is the next major piece of GE's $20 billion divestiture plan, and its first since being expelled from the Dow Jones Industrial Average after a century-plus run.