Jun
30

G.E. Agrees to Sell European Buyout Financing Business to Sumitomo

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LONDON — General Electric said on Tuesday that it had agreed to sell a division that finances leveraged buyouts in Europe to a unit of the Sumitomo Mitsui Banking Corporation for about $2.2 billion.

The sale of the private equity lending unit to Sumitomo Mitsui Banking Corporation Europe continues G.E.’s efforts to refocus its business on its industrial roots and to retreat from banking. It is the third major transaction G.E. has announced this month.

On June 9, G.E. agreed to sell its private equity finance business in the United States to the Canada Pension Plan Investment Board for $12 billion…

G.E. Agrees to Sell European Buyout Financing Business to Sumitomo

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