NYT: GE Capital May Sell Australian Businesses to Sankaty, Deutsche

The New York Times reported that GE Capital is in talks to sell its commercial lending and leasing businesses in Australia to Sankaty Advisors and Deutsche Bank.

Citing an unidentified source, the Times said that Sankaty and Deutsche were chosen as the final bidder for the private plane financing, equipment rental, lending for working capital and leverage loans businesses, which have a total value of roughly $1.8 billion.

Negotiations have been going on for more than a week, noted the Times, which also reported that if the deal is closed, Sankaty would manage the businesses while Deutsche would provide acquisition finance.

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