Jun
29
G.E. to Sell Bulk of Fleet-Financing Business for $6.9 Billion
ByLONDON — General Electric said on Monday that it had agreed to sell its fleet-financing businesses in the United States, Mexico, Australia and New Zealand to Element Financial Corporation of Canada for $6.9 billion.
On Monday, G.E. also announced that it had separately signed a memorandum of understanding to possibly sell its fleet businesses in Europe to Arval, a unit of the French bank BNP Paribas and an alliance partner of Element’s.
The sale of the bulk of GE Capital Fleet Services represents the latest move in G.E.’s effort to retreat from banking and refocus on its industrial roots…
G.E. to Sell Bulk of Fleet-Financing Business for $6.9 Billion
