GE in deal to sell Australia, NZ commercial lending, leasing portfolios

November 9, 2015 7:51 AM

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SYDNEYGE said on Monday it had reached an agreement to sell its finance unit GE Capital's commercial lending and leasing portfolios in Australia and New Zealand to Sankaty Advisors, the global credit affiliate of Bain Capital.

GE said in a statement the deal completes GE Capital's exit from Australia and New Zealand as part of a previously announced strategy to reduce the size of its financial businesses by selling most of GE Capital assets and focusing on investment and growth in industrial businesses.

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