Reuters reported that in an interview, GE Capital CEO Keith Sherin said he expects the pace of GE Capital asset sales to accelerate in the third quarter as GE eyes unloading an even bigger chunk of assets.
Reuters notes, according to analysts, the finance asset sales have garnered high deal prices so far, but it remains to be seen if future sales will realize the same value and allow GE to reap more than the $35 billion in proceeds it has targeted for share buybacks.
Reuters said Sherin reaffirmed GE’s earlier goal to close deals for $100 billion in assets this year. The company has announced buyers for $68 billion in assets thus far, Reuters said.
Read the full report from Reuters 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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Aug 15, 2016 - GE Capital Receives Binding Offer to Sell French Mortgage Portfolio
May 3, 2016 - GE Completes Sale of Lending/Leasing Assets in AU & NZ to Bain Capital
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
Jan 7, 2016 - GE Capital Divestitures in 2015 Reach $157 Billion
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
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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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Sep 11, 2015 - GE Exploring Sale of Asset Management Arm
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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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Jul 21, 2015 - The Australian: Tudor in the Mix for GE Assets
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Jul 1, 2015 - GE Agrees to Sumitomo Mitsui’s Offer for European Sponsor Finance Business
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Jun 23, 2015 - WSJ: Sumitomo Mitsui Interested in GE’s Rail Business
Jun 17, 2015 - GE Capital Releases Q2/15 Fleet Market Economic Outlook
Jun 16, 2015 - NYT: GE Said to Struggle to Find Buyers of Australian Units
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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
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Jun 1, 2015 - GE Launches Sales Process for Portion of Commercial Lending Units
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
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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’
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Terry Mulreany
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