Reuters: GE Nears Deal to Sell $30B of Loans to Wells Fargo

Reuters reported, citing a person familiar with the matter, that General Electric is in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo.

Reuters said, according to a person with direct knowledge of the situation, Wells Fargo has so far outbid other parties for GE Capital’s vendor financing, commercial distribution finance and direct lending assets.

Reuters noted, citing the person, that the deal could be announced by the time Wells Fargo publishes its third-quarter earnings on Wednesday, October 14, 2015.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

  • Hidden
  • RAM Group Holdings does not share or sell your personal information. The information we ask you to furnish is limited to what is needed to process your order fully and completely. You may unsubscribe at any time. View our Privacy Policy.
  • Please Confirm permission for Monitor/Monitordaily to e-mail you.
  • Hidden

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

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.