agreement to become the sole shareholder of East Asia GE Commercial
Finance (EAGE).
In 2001, GE acquired a 50 per cent equity interest in EAGE.
Under the terms of the new definitive agreement, EAGE, with the
support of GE, will repurchase the remaining 50 per cent of its
outstanding equity interest from Bank of East Asia.
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Acquiring sole ownership of EAGE is a key step towards executing
GE’s long-term strategy for the Greater China market, the company
said.
Established in Hong Kong in 1972, EAGE has over 35 years of
experience in factoring and serving SMEs. Under GE’s leadership,
the company’s current product offering will be expanded to
incorporate a wider range of trade finance products.
“EAGE is a great strategic fit with GE,” said Nancy Ku,
president and CEO of GE Commercial Finance in Greater China. “With
the synergies between companies, we will have the potential to
build a regional trade finance business for Hong Kong and Greater
China.”
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