GE dismantles GE Capital; plans $90B to investors



By Kaja Whitehouse

General Electric (GE) said today it is selling the bulk of its GE Capital banking business in its latest attempt to simplify the conglomerate and concentrate on the best-performing segments.
GE kicked off the announcement on Thursday with the sale of its real-estate assets — a hodgepodge of factories, commercial loans and apartment complexes — for $26.5 billion. Wells Fargobank and private equity firm Blackstone bought the bulk of that for $23 billion, the companies said.
GE will take a $16 billion after-tax charge against earnings the first quarter this year as a result, the company said.

The stock jumped 8.9% to $27.81 a share as Wall Street applauded the move as evidence the company is getting serious about its strategic shift away from financials and back to manufacturing.
“Read the Full Article at >>>>”

Due to the nature of independent content, VT cannot guarantee content validity.
We ask you to Read Our Content Policy so a clear comprehension of VT's independent non-censored media is understood and given its proper place in the world of news, opinion and media.

All content is owned by author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners or technicians. Some content may be satirical in nature. All images within are full responsibility of author and NOT VT.

About VT - Read Full Policy Notice - Comment Policy