Wells Fargo completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance business.
General Electric is selling its commercial leasing and lending businesses to Wells Fargo.
Bruce Van Wagoner is managing director and president of the Commercial Distribution Finance marine group at GE Capital, the marine industry’s major wholesale lender.
Brunswick Corp. extended its joint venture with Commercial Distribution Finance, a division of GE Capital, through 2019.
GE Capital is expanding its financing program with Bass Pro Shops and Tracker Marine to cover Fishing Holdings LLC.
Canada Pension Plan Investment Board and Ares Management submitted bids for General Electric Co.’s U.S. private-equity lending business.
General Electric Co. is in advanced talks to sell assets in the $9 billion vehicle fleet-management business to Element Financial Corp.
GE said April 10 that it is selling the portfolio, which consists of $74 billion in loans to U.S. businesses.
The marine industry’s major wholesale lender announced that it will sell its business to simplify operations.