GE Capital Sale Story Thread

Reuters: Fed Tells GE Capital to Upgrade Resolution Plans

According to Reuters, the Federal Reserve and the FDIC told GE Capital, along with two insurance companies, that they need to upgrade their resolution plans and provide more information on funding and liquidity. read more

Reuters: GE Sets Deadline for Japanese Leasing Unit Bids

According to a report from Reuters, General Electric has set a Sept. 4 deadline for the initial round of bids for its Japanese leasing arm. read more

The Australian: Tudor in the Mix for GE Assets

According to a report from The Australian, Tudor Investment Corp. has emerged as a bidder for GE Capital’s commercial finance loans in Australia, with a potential value of $5 billion. read more

GE Capital CDF CEO Comments on Sale of Business

The head of GE Capital’s Commercial Distribution Finance business, Steve Battreall, comments on the rationale for why GE is selling its CDF business and what it will mean to its many customers. read more

GE Reports Q2 Net Loss on Discontinued Operations Charges

General Electric reported a Q2/15 net loss of $1.36 billion as it booked a $3.75 billion loss from discontinued GE Capital operations. For the six month period ended 6/30, GE notes GE Capital segment loss of $8.3 billion. read more

GE Accelerates CLL Asset Disposals; Will Take Q2 Charge of $4.3B

GE said it classified additional businesses with its CLL unit as held for sale that reflects an acceleration of timing versus its earlier Exit Plan. As a consequence, GE said it expects to recognize $4.3 billion of after-tax charges in Q2/15. read more

Reuters: Sherin Sees Asset Sale Pace Speeding Up in Q3

Reuters reported that in an interview, GE Capital CEO Keith Sherin said he expects the pace of GE Capital asset sales will accelerate in the third quarter. read more

GE Agrees to Sumitomo Mitsui’s Offer for European Sponsor Finance Business

In concert with its continued plan to sell off GE Capital assets, GE has agreed to an offer of $2.2 billion for acquisition of its European sponsor finance business by Sumitomo Mitsu. read more

Element, Arval to Acquire Majority of GE Fleet Business

GE said it reached an agreement to sell its U.S., Mexico, Australia and New Zealand Fleet business to Element Financial for $6.9 billion. GE also signed an MOU for the potential sale of its European fleet business to Arval. read more

WSJ: Sumitomo Mitsui Interested in GE’s Rail Business

The Wall Street Journal reported that Sumitomo Mitsui Financial Group is interested in GE’s U.S. railcar leasing business, which could be worth $4 billion. read more

GE Capital Releases Q2/15 Fleet Market Economic Outlook

GE Capital released key findings of its Q2/15 Fleet Market Economic Outlook Survey. read more

NYT: GE Said to Struggle to Find Buyers of Australian Units

The New York Times reported that GE Capital is struggling to stimulate interest in its Australian commercial lending and leasing businesses. read more

Wells, TD Explore Bids for GE Lending Assets

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. read more

GE Sells U.S. Sponsor Finance Business to CPPIB for $12B

GE announced it reached an agreement to sell its U.S. Sponsor Finance business and a $3 billion bank loan portfolio to Canada Pension Plan Investment Board in a transaction valued at approximately $12 billion. read more

GE Uses Own Metric to Value Its Finance Arm’s Assets

GE reportedly is using its own metric to value its finance arm’s assets. read more

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