Reuters reported General Electric launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets as a part of its broad retreat from its finance businesses.
According to Reuters, the businesses include its commercial distribution finance business, equipment finance and corporate finance.
Reuters reported Toronto-Dominion Bank, CIT Group, Ally Financial, Capital One, U.S. Bancorp and Wells Fargo are among the potential bidders for the GE assets, while other large and midsize banks, as well as private-equity firms are expected to show interest.
According to Reuters, GE is working with Credit Suisse Group and Goldman Sachs Group on the sale, while J.P. Morgan Chase is overseeing all the sales processes.
To view the full Reuters report, click here.
To read a related Wall Street Journal report (subscription required), click here.
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Dec 1, 2016 - GE Capital Sells $3.6B Investment in Italian Bank
Nov 17, 2016 - GE Capital to Exit Stake in Czech Moneta Money Bank
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Apr 8, 2016 - CWB Acquires GE Capital’s Canadian Franchise Finance Business
Jan 15, 2016 - GE Agrees to Sell Appliances Business for $5.4 Billion
Jan 15, 2016 - GE to Cut 6,500 Jobs in Europe After Alstom Purchase
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Dec 15, 2015 - GE Sells Japanese Commercial Leasing Business to Sumitomo Mitsui
Dec 10, 2015 - GE Capital Passes $100B Threshold of Transactions Closed
Dec 7, 2015 - GE to Sell Mexican Equipment Lending Platform to Linzor Capital Partners
Dec 7, 2015 - GE Completes Sale of $5.9B UK Home Lending Portfolio
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Dec 2, 2015 - GE Completes Sale of Healthcare Services Business to Capital One
Dec 2, 2015 - GE Completes Transportation Finance Sale to BMO
Nov 18, 2015 - Synchrony Financial Completes Separation from GE
Nov 16, 2015 - Two Bidders Remain for GE’s Japanese Commercial Finance Unit
Nov 4, 2015 - GE Completes Sale of European Fleet Services to Arval
Oct 28, 2015 - Burger Appointed GECAS President and CEO
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Oct 16, 2015 - GE Reports $126B of Signed Dispositions, Will Close $100B by YE
Oct 16, 2015 - WSJ: Wells Fargo’s Pursuit of GE Assets Likely Over
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Sep 11, 2015 - GE Exploring Sale of Asset Management Arm
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Aug 18, 2015 - Early Returns on GE Capital Sale Spark Moody’s Upgrade
Aug 14, 2015 - GE Capital Sells Deposit Platform to Goldman Sachs
Aug 12, 2015 - Capital One Acquires GE Capital’s Healthcare Finance Unit
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Aug 3, 2015 - FSOC Says GE Capital Still ‘Systemically Important’
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Jul 21, 2015 - The Australian: Tudor in the Mix for GE Assets
Jul 20, 2015 - GE Capital CDF CEO Comments on Sale of Business
Jul 17, 2015 - GE Reports Q2 Net Loss on Discontinued Operations Charges
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Jul 1, 2015 - Reuters: Sherin Sees Asset Sale Pace Speeding Up in Q3
Jul 1, 2015 - GE Agrees to Sumitomo Mitsui’s Offer for European Sponsor Finance Business
Jun 29, 2015 - Element, Arval to Acquire Majority of GE Fleet Business
Jun 23, 2015 - WSJ: Sumitomo Mitsui Interested in GE’s Rail Business
Jun 17, 2015 - GE Capital Releases Q2/15 Fleet Market Economic Outlook
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Jun 12, 2015 - Wells, TD Explore Bids for GE Lending Assets
Jun 10, 2015 - GE Sells U.S. Sponsor Finance Business to CPPIB for $12B
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Jun 8, 2015 - WSJ: GE Close to Private Equity Sale to CPPIB
Jun 4, 2015 - GE Said to Hire Banks to Start Sale on $20B Assets
May 29, 2015 - GE Selects Deutsche Bank to Sell GE Capital Interbanca
May 28, 2015 - GE Capital CEO Prioritizes Sale of Private Equity Assets
May 27, 2015 - Bloomberg: GE, Element in Talks over Fleet Assets
May 26, 2015 - Rumor: Element’s $2.5B Raise Tied to GE Capital Fleet Acquisition
May 21, 2015 - Element Financial to Raise $2.2B to Fund Future Acquisitions
May 21, 2015 - GE Said to Be Running Ahead of Schedule on Asset Sales
May 13, 2015 - Banks Have Advantage Over PE Firms in GE Antares Bidding
May 11, 2015 - WSJ: GE Capital Bidders Said to Sign ‘Nonhire’ Clause
May 1, 2015 - Bloomberg: Oaktree Has Interest in GE Capital Assets
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Apr 21, 2015 - WSJ: GE in Talks to Sell U.S. CLL Business to Wells Fargo
Apr 21, 2015 - GE Capital Finances AAA Acquisition
Apr 20, 2015 - Moody’s: GE Capital Asset Disposal Will Alter ABS Landscape
Apr 17, 2015 - GE Capital Q1/15 Net Loss of $14.7B After ‘Exit Impacts’
Apr 15, 2015 - NYT: Investment Bankers Will Feel the Pain of GE Capital Spinoff
Apr 15, 2015 - GE Capital Fleet Services Introduces BrightWorks Insights
Apr 14, 2015 - GE Capital Will Look Like a Captive in 2018
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Apr 13, 2015 - GE’s Decision to Sell Most of GE Capital ‘End of an Era’
Apr 13, 2015 - GE Shares Finish at Highest Level Since 2008
Apr 13, 2015 - Blackstone, Wells Fargo to Acquire GE Capital’s CRE Assets
Terry Mulreany
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