Synchrony Financial completed its separation from General Electric, allowing the financial services company to become a standalone entity. In related news, GE completed its exchange offer for shares of Synchrony.
“This is an historic day for Synchrony Financial,” said Margaret Keane, president and CEO of Synchrony Financial. “Today we launch the next stage in our company’s future – pursuing a long-term strategy focused on Synchrony’s business objectives as a stand-alone company. I am very proud of our employees, who have prepared us for this day, while continuing to serve our partners and customers and to grow our business.”
Synchrony Financial will also become the newest member of the S&P 500. S&P Dow Jones Indices announced its intent to add Synchrony Financial to the S&P 500 after the close of trading on November 17.
The results of GE’s exchange offer revealed that the common stock owned by GE was oversubscribed by 3.2 times.
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!
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
Nov 7, 2016 - GE Capital Completes Spin-Off of Polish Bank
Aug 22, 2016 - Wintrust Closes GE Capital Franchise Finance Portfolio Acquistion
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
Dec 3, 2015 - Moody’s Assigns A1 Issuer Rating to GE Capital Global Holdings
Dec 2, 2015 - GE Completes Sale of Healthcare Services Business to Capital One
Dec 2, 2015 - GE Completes Transportation Finance Sale to BMO
Nov 16, 2015 - Two Bidders Remain for GE’s Japanese Commercial Finance Unit
Nov 4, 2015 - GE Completes Sale of European Fleet Services to Arval
Oct 28, 2015 - Burger Appointed GECAS President and CEO
Oct 19, 2015 - GE Begins Exchange Offer to Complete Separation of Synchrony Financial
Oct 16, 2015 - GE Reports $126B of Signed Dispositions, Will Close $100B by YE
Oct 16, 2015 - WSJ: Wells Fargo’s Pursuit of GE Assets Likely Over
Oct 14, 2015 - Wells Fargo Buys GE’s $32B Lending/Leasing Businesses
Oct 12, 2015 - Reuters: GE Nears Deal to Sell $30B of Loans to Wells Fargo
Oct 5, 2015 - GE Capital Nears $100 Billion in Asset Sales Since April
Oct 1, 2015 - GE Sells Tank Car Portfolio to Marmon, Railcar Leasing to Wells Fargo
Oct 1, 2015 - Element Closes GE Capital Fleet Ops in Mexico, Australia & NZ
Oct 1, 2015 - MidCap, Apollo Partner to Acquire $3.6B Mubadala GE Capital Portfolio
Sep 24, 2015 - Bloomberg: GE Capital Will Sell Private-Equity Unit to Ardian
Sep 17, 2015 - GE Completes Sale of European Sponsor Finance Business
Sep 14, 2015 - KKR, Apollo to Pursue GE’s $11B Inventory Finance Arm
Sep 11, 2015 - GE to Sell Transportation Finance Unit to BMO
Sep 11, 2015 - GE Exploring Sale of Asset Management Arm
Sep 2, 2015 - Bidders for GE Capital’s Australian Units Down to 3
Aug 28, 2015 - Contenders Emerge for GE Capital Australian Assets
Aug 24, 2015 - GE Completes Sale of U.S. Sponsor Finance Business to CPPIB
Aug 19, 2015 - Field Shrinks in Competition For GE Capital Australian Assets
Aug 18, 2015 - Early Returns on GE Capital Sale Spark Moody’s Upgrade
Aug 14, 2015 - GE Capital Sells Deposit Platform to Goldman Sachs
Aug 12, 2015 - Capital One Acquires GE Capital’s Healthcare Finance Unit
Aug 7, 2015 - Reuters: Capital One in Exclusive Talks for GE Healthcare Finance Arm
Aug 3, 2015 - FSOC Says GE Capital Still ‘Systemically Important’
Jul 31, 2015 - GE Capital Sells Japanese Office Holdings
Jul 29, 2015 - Reuters: Fed Tells GE Capital to Upgrade Resolution Plans
Jul 28, 2015 - Reuters: GE Sets Deadline for Japanese Leasing Unit Bids
Jul 21, 2015 - The Australian: Tudor in the Mix for GE Assets
Jul 20, 2015 - GE Capital CDF CEO Comments on Sale of Business
Jul 17, 2015 - GE Reports Q2 Net Loss on Discontinued Operations Charges
Jul 8, 2015 - GE Accelerates CLL Asset Disposals; Will Take Q2 Charge of $4.3B
Jul 1, 2015 - Reuters: Sherin Sees Asset Sale Pace Speeding Up in Q3
Jul 1, 2015 - GE Agrees to Sumitomo Mitsui’s Offer for European Sponsor Finance Business
Jun 29, 2015 - Element, Arval to Acquire Majority of GE Fleet Business
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
Jun 12, 2015 - Wells, TD Explore Bids for GE Lending Assets
Jun 10, 2015 - GE Sells U.S. Sponsor Finance Business to CPPIB for $12B
Jun 9, 2015 - GE Uses Own Metric to Value Its Finance Arm’s Assets
Jun 8, 2015 - WSJ: GE Close to Private Equity Sale to CPPIB
Jun 4, 2015 - GE Said to Hire Banks to Start Sale on $20B Assets
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
Apr 29, 2015 - GE Capital: Truck Transportation Spring 2015 Update
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
Apr 15, 2015 - GE Capital Fleet Services Introduces BrightWorks Insights
Apr 14, 2015 - GE Capital Will Look Like a Captive in 2018
Apr 14, 2015 - Mubadala GE Capital: No Plans to Change Strategy of Business
Apr 13, 2015 - GE’s Decision to Sell Most of GE Capital ‘End of an Era’
Apr 13, 2015 - GE Shares Finish at Highest Level Since 2008
Apr 13, 2015 - Blackstone, Wells Fargo to Acquire GE Capital’s CRE Assets
Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]
Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com
