General Electric (GE) is considering the sale
of its European trailer leasing arm GE TIP Trailer Services for
$1bn (€743m) according to reports.
GE TIP, which offers European customers
leasing, rental and maintenance products for trailers and tankers,
is part of the Equipment Solutions division of the company’s
finance unit GE Capital.
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Two sources close to discussions said GE has
hired Barclays to help manage the sale process and an auction may
start in the next weeks according to a report in Bloomberg.
GE Capital is believed to be selling or winding
down about $80bn (€60bn) in assets which it will shift to areas
such as aircraft leasing and middle-market lending.
A spokesperson for GE said the company do
not comment on media speculation. A spokesperson for Barclays also
declined to comment.
grant.collinson@vrlfinancialnews.com
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