GE Said to Hire Banks to Start Sale on $20 Billion Assets
By
GEO CEO Jeffrey Immelt. Photographer: Goh Seng Chong/Bloomberg
General Electric Co. has put virtually all of its U.S. commercial loan businesses on the market after hiring banks to unload $20 billion of assets in its health-care, railcar and franchise finance divisions, according to people with knowledge of the matter.
GE is working with JPMorgan Chase & Co. to sell Healthcare Financial Services, a middle-market lender with about $10 billion in assets, said the people, who asked not to be identified because the matter is private. GE has engaged Deutsche Bank AG to find a buyer for the railcar lessor and Barclays Plc to sell the franchise lender, the people said. JPMorgan is overseeing all the sales as global coordinator, one person said…
GE Said to Hire Banks to Start Sale on $20 Billion Assets
