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GE Hires Banks For Sales of Healthcare, Rail & Franchise Units, Bloomberg

June 04, 2015, 07:16 AM
Filed Under: Industry News

Bloomberg reported General Electric has put virtually all of its U.S. commercial loan businesses on the market after hiring banks to unload $20 billion of assets in its health-care, railcar and franchise finance divisions, according to people with knowledge of the matter.

According to the Bloomberg report, GE is working with JPMorgan Chase & Co. to sell Healthcare Financial Services, a middle-market lender with about $10 billion in assets. GE has engaged Deutsche Bank AG to find a buyer for the railcar lessor and Barclays Plc to sell the franchise lender, the people said. JPMorgan is overseeing all the sales as global coordinator, one person said.

Chief Executive Officer Jeffrey Immelt said last month the divestiture of about $200 billion of GE Capital’s operations would be done by 2016, a year earlier than the plan announced in April, according to Bloomberg.

To read the full Bloomberg report, click here.


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