General Electric has launched the sales process for approximately $40bn (£26.1bn/36.4bn) of its US commercial lending assets, a market report revealed.
This more than half of GE’s total commercial lending and leasing portfolio, which stands at $74bn.
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Reuters reports the sales process has started for GE Capital’s commercial distribution finance business, equipment finance and corporate finance. GE’s corporate finance unit provides direct lending and leasing to midsize companies.
According to Reuters’ sources, these units could be sold to a single buyer or could be divided and sold separately to a number of buyers.
In addition, the market report stated that GE is working with Credit Suisse and Goldman Sachs on the sale, as well as that J.P Morgan Chase is overseeing the sales process.
A GE spokesperson declined to comment.
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