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.

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