GE Closes $42B in Transactions in Q1/16



GE completed the previously announced sale of its commercial lending and leasing business in Japan, including Capital Finance, Fleet Services and Vendor Finance, to Sumitomo Mitsui Finance and Leasing.

Additionally, GE announced the completion of the sale of its Mexican equipment lending and leasing business to Linzor Capital Partners. Combined, the two closings represent approximately $6.2 billion in ending net investment.

In addition, in recent weeks GE Capital signed and closed a variety of smaller sales globally, including an agreement to sell GE Capital’s majority stake in Bank BPH’s Core Bank to Alior Bank.

During Q1/16, GE Capital closed $42 billion of transactions, including closing $27 billion related to the North America Commercial Lending and Leasing business sale to Wells Fargo. The total closed transactions to date are now approximately $146 billion and signed agreements have reached more than $165 billion of the $200 billion in ENI that GE Capital plans to sell.

“In just less than a year since we announced our plan to divest the majority of GE Capital assets, we have made significant progress toward our goals,” said Keith Sherin, GE Capital chairman and CEO. “We wish our employees all the best as they transition to these successor employers.”


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.
www.abfjournal.com