Welcome

GE to Exit Most Finance
As $26.5 Billion of Real Estate Sold

April 13, 2015, 4:00 AM

General Electric Co. plans to exit the bulk of its lending business, including a $26.5 billion sale of most of its real estate, as Chief Executive Officer Jeffrey Immelt refocuses the company on its industrial roots.

In the broadest restructuring since the GE Capital unit destabilized its parent during the 2008-09 financial crisis, GE plans to unload its middle-market lending business and consumer platforms while keeping only the operations that support its manufacturing arms. Potential buyers have made a “significant amount” of inquiries, GE Capital CEO Keith Sherin said.

The shares surged the most in almost five years on GE’s ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.