GE Capital Said to Be in Talks to Sell Australian Businesses
BySYDNEY, Australia — GE Capital is in talks to sell its Australian commercial lending and leasing businesses to Sankaty Advisors and Deutsche Bank, said a person with direct knowledge of the matter, the last of a series of auctions of General Electric’s Australian financial assets this year that have included consumer lending and fleet-financing.
Deutsche Bank and Sankaty, the distressed debt investing affiliate of Boston-based Bain Capital, were selected as the preferred final bidder for the private plane financing, equipment rental, lending for working capital and leverage loans businesses, said the person, who spoke only on condition of anonymity. The estimated book value of the businesses is about $1.8 billion…
GE Capital Said to Be in Talks to Sell Australian Businesses
