Bloomberg: GE, Element in Talks over Fleet Assets

Citing people familiar with the matter, Bloomberg reported that General Electric is in advanced talks to sell assets in its $9 billion vehicle fleet-management business to Element Financial.

Bloomberg said, according to one person, GE hopes to come to terms on a sale of the operations by the end of the quarter.

Bloomberg noted that Element bought GE Capital’s Canadian fleet business in 2013 for $560 million and entered into a Canadian-U.S. cross-border partnership.

To view the full Bloomberg report, click here.

Previously on monitordaily: Rumor: Element’s $2.5B Raise Tied to GE Capital Fleet Acquisition

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.