Bloomberg reported Wells Fargo and TD Bank are exploring offers for a batch of U.S. commercial-lending businesses General Electric Co. is selling as it whittles down its finance arm.
According to Bloomberg, Capital One Financial and U.S. Bancorp are also weighing bids for the businesses that together have about $40 billion in loans.
Bloomberg reported the lenders have signed non-disclosure agreements to review financial information about four business lines – direct corporate lending, inventory finance, equipment leasing and transportation finance.
According to Bloomberg, GE will let bidders make offers for one or multiple businesses. It will tell potential buyers this week when initial bids are due.
To view the full Bloomberg report, click here.
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Aug 12, 2015 - Capital One Acquires GE Capital’s Healthcare Finance Unit
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Jun 8, 2015 - WSJ: GE Close to Private Equity Sale to CPPIB
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May 27, 2015 - Bloomberg: GE, Element in Talks over Fleet Assets
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May 21, 2015 - Element Financial to Raise $2.2B to Fund Future Acquisitions
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Apr 15, 2015 - NYT: Investment Bankers Will Feel the Pain of GE Capital Spinoff
Apr 15, 2015 - GE Capital Fleet Services Introduces BrightWorks Insights
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Terry Mulreany
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