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
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