Bloomberg: GE Said to Pick Banks for Australian Credit Unit Sale

Bloomberg reported that GE is working with Morgan Stanley and Credit Suisse to study sale options for its consumer finance business in Australia and New Zealand, people with knowledge of the matter said.

According to Bloomberg, the U.S. company will consider selling the GE Money unit, which provides personal loans and credit card services, to a buyer or through an initial public offering.

Bloomberg reported GE Money has about 6.2 billion of gross assets and may fetch more than A$1.5 billion.

To view the full Bloomberg report, click here.

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