WSJ: Wells Still In Tough Competition For GE Capital Assets
JUL 15, 2015 - 7:09 am
According to the Wall Street Journal, Wells Fargo remains interested in acquiring parts of the GE Capital portfolio, even against elevated competition from non-banks.
As the Journal notes, non-bank bidders for GE Capital’s offerings are more likely to pay more, since the lending businesses would come with systems and staffs, whereas banks like Wells Fargo, which have their own systems and staffs already, are more intrigued by the customers in GE Capital’s portfolio.
One such example, the Journal said, was the $12 billion sale of GE Capital’s private equity lending unit, which was purchased by Canada’s largest pension fund.
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