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Reginal Thomas

GE Looking to Sell its Commercial Lending and Leasing Business to Banque Federative du Credit Mutuel

General Electric announced on Thursday it signed a memorandum of understand with Banque Federative du Credit Mutuel for the potential spinoff of its Equipment Finance and Receivable Finance business in France and Germany. The potential sale, still subject to approval by regulatory and anti-trust authorities, would be the end of a net investment of $7.5 billion, according to the firm.

Earlier in 2015 GE announced a restructuring plan to shed most of its finance unit and return $90 billion to shareholders, simplifying itself to a more industrial business instead of a hybrid of banking and manufacturing.  

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