United States stocks: General Electric start, United States commercial loan Department to sell the program, valued at about 40 billion dollars
New York, May 31-Reuters, a source familiar with the situation said on Sunday, United States General Electric (singular, GE) (GE. N) started part of United States commercial loans assets sale program, worth about US $ 40 billion. GE plans to completely withdraw from the financial business.
sources said these assets, including commercial distribution finance business, involving ships and RV dealers; equipment financing, including the provision of loans used to buy trucks and construction equipment; corporate finance involves direct loans to midsize enterprises and leasing. GE
the Wall Street Journal first reported the progress of these divestitures. The company had announced in April plans to sell most of the financial business.
a spokesman for GE declined to comment.
sources said, these assets may be sold to a purchaser or sold separately.
the Wall Street Journal reported citing informed sources, the Toronto-Dominion Bank (TD. TO) 、CIT Group (CIT. N) 、Ally Financial (ALLY. N) and Wells Fargo (WFC. N) were GE asset potential bidders.
the newspaper added that other large or medium sized banks and private-equity firms are also showing interest.
sources told Reuters that thought to Capital One (COF. N) and U.S. Bancorp (USB. N) will also consider a bid.
, the sources said, GE is working on the sale deal with Switzerland Credit Suisse and Goldman Sachs communication, JPMorgan is responsible for controlling the overall sales process.