GE Capital Looking To Sell Business-Lending Unit To Wells Fargo

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GE Capital Looking To Sell Business-Lending Unit To Wells Fargo

According to an April 20th article in the Wall Street Journal, GE Capital is in relatively advanced negotiations with financial institutions including Wells Fargo regarding the sale of its middle-market lending unit. The WSJ sources would not offer any further details except to say the company is in talks to sell all or part of the $74 billion business to megabank Wells Fargo, but is is also working with other bidders.

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Obviously, an agreement to part with the U.S. commercial lending division would be another big move forward in GE’s plan to get out of banking given widespread investor discontent and increased regulatory burdens.

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