Tags: ge | lending | leasing | wells fargo

GE in Talks to Sell Lending, Leasing Portfolio to Wells Fargo: Source

Monday, 20 Apr 2015 12:59 PM


General Electric Co. is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.

Other parties may also hold talks with GE about buying the entire U.S. CLL portfolio, the source said. GE is also exploring selling the U.S. CLL portfolio piecemeal and could decide to break the business up, the source added.

The source asked not to be identified because the talks are confidential. GE and Wells Fargo declined to comment.

The talks with Wells Fargo underscored GE's urgency in looking to dismantle its GE Capital business and free itself from the financial regulatory pressures that come with it.

GE earlier this month unveiled plans to exit the bulk of GE Capital over the next few years to focus more on industrial manufacturing.

© 2017 Thomson/Reuters. All rights reserved.

 
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General Electric Co. is in early-stage talks with Wells Fargo Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation. Other parties may also hold talks with GE about buying...
ge, lending, leasing, wells fargo
146
2015-59-20
Monday, 20 Apr 2015 12:59 PM
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