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BMO to Buy GE Capital’s Transportation Finance Unit

By Tony Seruga

Bank of Montreal, Canada’s fourth-largest lender, agreed to buy General Electric Co.’s transportation finance business in the U.S. and Canada.

The unit had net earning assets of about C$11.5 billion ($8.7 billion) as of June 30, the Toronto-based bank said Thursday in a statement that didn’t disclose terms. The GE unit’s management team and about 600 employees will join Bank of Montreal, according to a presentation on the bank’s website…

BMO to Buy GE Capital’s Transportation Finance Unit

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