GE Launches Sales Process for Lending Units
General Electric reportedly launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets.
General Electric reportedly launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets.
Reuters reported General Electric picked Deutsche Bank to sell Italian lender GE Capital Interbanca as part of a strategic review to refocus the U.S. conglomerate around its industrial base.
Shinsei Bank reportedly is interested in bidding for General Electric’s leasing assets in Japan as it seeks to diversify away from traditional lending.
Bloomberg reported that GE is in advanced talks to sell assets in its $9 billion vehicle fleet-management business to Element Financial.
General Electric’s credit rating reportedly is at risk as the manufacturing giant weighs adding $20 billion of debt to support its expansion.
General Electric reportedly started a process to sell its $5 billion Australia commercial lending operation.
General Electric reportedly is putting its $5 billion Japanese commercial finance operation up for sale.
According to Reuters, General Electric has sent out nondisclosure agreements to 12 potential bidders of its sponsored finance business, which includes Antares.
The Wall Street Journal reported 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.
General Electric reportedly has held talks with “a broad geographic spectrum” of sovereign wealth funds as part of the effort to sell the bulk of its lending business, CFO Jeff Bornstein said.