GE in Talks to Sell U.S. CLL Business to Wells Fargo
The Wall Street Journal reported, citing people familiar with the matter, General Electric is in talks to sell all or parts of its U.S. Commercial Lending and Leasing unit, with $74 billion in assets, to Wells Fargo and others.
According GE’s supplemental information data from its presentation on Q1/15 performance, GE Capital reported its Commercial Lending and Leasing segment assets at Q1/15 to be $156.3 billion. GE Capital’s total assets at Q1/15 were shown to be $476.5 billion, including assets of discontinued operations, down from $511.8 billion at the end of Q1/14.
To read the Journal article, click here.