Japanese Banks Bid on GE’s Local Commercial Finance Operations
The Wall Street Journal reported several Japanese megabanks submitted nonbinding bids for GE’s Japanese commercial finance operations, which are expected to several billion dollars.
The Wall Street Journal reported several Japanese megabanks submitted nonbinding bids for GE’s Japanese commercial finance operations, which are expected to several billion dollars.
According to Bloomberg, GE is having exploratory talks about relocating its headquarters to Atlanta from Connecticut.
General Electric reported a Q2/15 net loss of $1.36 billion as it booked a $3.75 billion loss from discontinued GE Capital operations. For the six month period ended 6/30, GE notes GE Capital segment loss of $8.3 billion.
Capital One Financial, Apollo Global Management, Ares Management and Ventas reportedly made offers for GE’s healthcare finance unit.
Sumitomo Mitsui Financial Group reportedly is interested in General Electric’s U.S. railway leasing business, according to people familiar with the matter.
General Electric reportedly outlined its plans for the ship-finance business, diversifying its $48 billion aircraft leasing unit to support sales to the oil and gas sector.
GE announced it reached an agreement to sell its U.S. Sponsor Finance business and a $3 billion bank loan portfolio to Canada Pension Plan Investment Board in a transaction valued at approximately $12 billion.
The Wall Street Journal notes in a report how GE presents the asset size of its finance arm to investors and analysts versus the $500 billion in total assets the company recently reported to the Fed.
GE reportedly is nearing an agreement to sell its private equity lending unit to the Canada Pension Plan Investment Board, Canada’s largest pension fund.
GE reportedly has put virtually all of its U.S. commercial loan businesses on the market after hiring banks to unload $20 billion of assets in its healthcare, railcar and franchise finance divisions.