Replies to post #10874 on The Rising Influence of Rising Affluence

[DewDiligence]

GE sells commercial-lending business to WF for undisclosed terms:

http://www.wsj.com/articles/ge-to-sell-commercial-lending-leasing-businesses-to-wells-fargo-1444742310

The sale is perhaps the most important milestone yet for the company in its planned exit from GE Capital, as shedding the lending business will be key to its bid to escaping oversight from the Federal Reserve.

With Tuesday’s move, GE has sold off the guts of the middle-market lending business. The sale includes about $32 billion of assets and 3,000 employees and is made up of GE Capital’s global commercial distribution finance, North American vendor finance and corporate finance platforms. It is expected to be completed in the first quarter of next year.

…GE Capital’s remaining $5 billion sliver of franchise finance, which makes loans to acquire fast-food restaurants and other business franchises, is expected to be sold later this year.

GE is getting ever closer to being a pure-play industrial company.