GE Capital

GE Shrinks Finance Business, Appeals For Omitting SIFI Label

GE has slashed down assets of finance arm from $549 billion to $265 billion while cutting ties with rest of the financial system that led to attain the SIFI status. Now the conglomerate appeals for its declassification since it no longer possesses ability to exert risk for the US economy. However, an FSOC spokesman vows to exercise its legislative authority in protecting the country’s economy from potential threats.

Read Full Article

GE Sells U.S. Hotel Franchise Portfolio Along With Canadian Hospitality And Restaurant Industries Financier

GE will sell its U.S. hotel franchise for $1.4 billion and its other business that finances Canadian hospitality and restaurant industries, separately. The completion of the transaction is expected to close by the second quarter of this year.

Read Full Article

Element to buy majority of GE Capital's fleet ops for C$8.6 bln

Canada's Element Financial Corp (EFN.TO) said it will buy General Electric Co's (GE.N) fleet management operations in the United States, Mexico, Australia and New Zealand for C$8.6 billion ($6.98 billion) in cash.

Read Full Article

GE in talks to sell lending, leasing portfolio to Wells Fargo: source

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.

Read Full Article

GE to sell bulk of finance unit, return up to $90 billion to investors

General Electric Co will shed most of its finance unit and return as much as $90 billion to shareholders as it becomes a “simpler” industrial business instead of an unwieldy hybrid of banking and manufacturing.

Read Full Article

KKR, Varde, Deutsche seek to securitize $5.3 billion of GE Capital debt

A group comprising KKR & Co, Varde Partners and Deutsche Bank are looking to securitize about A$7 billion ($5.33 billion) of debt they acquired from a unit of GE, three sources with knowledge of the matter said.

Read Full Article

RadioShack reaches refinancing deal with Standard General

Cash-strapped electronics retailer RadioShack Corp has reached an agreement with a consortium led by its largest shareholder Standard General LP to refinance about $590 million of loans to re-stock ahead of the holiday season, Bloomberg reported, citing a person familiar with the matter.

Read Full Article

Small businesses fuel subprime loans boom - report

The New York Times' The Dealbook reported that small businesses were now fueling a boom on the subprime loan business as investors look for more lucrative but riskier investments.

Read Full Article

Green Dot Corp to buy GE Capital's Wal-Mart debit cards

California-based Green Dot Corp. intends to buy GE Capital's Wal-Mart branded prepaid debit cards. The deal will bring in over USD276 million in total deposits to Green Dot's bank in Utah.

Read Full Article

GE Capital gives Original Joe’s USD 49 million expanded senior credit facility

Original Joe's Franchise Group Inc and its parent company Franworks Franchise Corp received an expanded senior credit facility from GE Capital's Canadian Franchise Finance business.

Read Full Article

RadioShack Corp receives new financing despite sales declines

RadioShack Corp received a five-year financing worth USD 835 million.

Read Full Article

RadioShack gets new financing offer

RadioShack had received several new financing offers from Bank of America and Wells Fargo, said a Reuters report.

Read Full Article

General Electric Capital Corp to sell majority stake in GE Money Bank in IPO

General Electric Capital Corp would be divesting its stake in GE Money Bank in an IPO scheduled in the fourth quarter.

Read Full Article

WSJ says General Electric to divest US consumer lending biz

A Wall Street Journal report said General Electric Co will divest its US-based consumer lending business of GE Capital to focus on its core industrial operations.

Read Full Article

Carlyle Group welcomes new power team co-head

Carlyle Group LP welcomed its new member Matthew O'Connor, an executive from GE Capital, who was hired as managing director for the company's energy team.

Read Full Article
1 2

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics