Capital One Completes Acquisition of GE’s Healthcare Lending Business
Capital One has completed its acquisition of GE Capital’s Healthcare Financial Services lending business.
Capital One has completed its acquisition of GE Capital’s Healthcare Financial Services lending business.
GE completed the previously announced sale of GE Capital, Transportation Finance in the U.S. and Canada, representing $8.9 billion of net earning assets, to BMO Financial Group.
GE said it has completed the sale of its Australia and New Zealand consumer finance business, representing aggregate ending net investment of $4.3 billion to a consortium made up of Varde Partners, KKR and Deutsche Bank.
GE agreed to sell a portfolio of first lien mortgage loans from its UK Home Lending business valued at $5.8 billion to Blackstone, TPG Special Situation Partners and CarVal Investors.
According to The Wall Street Journal, Sumitomo Mitsui Financial Group and Shinsei Bank are the last two bidders in the running for GE’s roughly $5 billion Japanese commercial finance unit.
GE Capital, Commercial Distribution Finance said it extended its financing program with MarineMax through 2018. In addition, CDF said it provided an increase in the facility of $260 million.
GE appointed four new company officers, effective December 1, including the selection of Jim Waterbury as vice president, M&A counsel for GE and general counsel for GE Capital.
GE announced a final exchange ratio in connection with its offer to exchange GE common stock for Synchrony Financial common stock owned by GE. Goldman Sachs, J.P. Morgan Securities and others served as dealer managers for the exchange offer.
GE reached an agreement to sell GE Capital’s Commercial Lending and Leasing portfolios in Australia and New Zealand to Bain Capital global credit affiliate Sankaty Advisors.
Reuters reported that three buyout funds are vying to buy General Electric’s banking unit in France which has approximately $6.6 billion worth of assets.