GE dismantles GE Capital; plans $90B to investors

April 10, 2015 2:08 PM

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General Electric (GE) said today it is selling its GE Capital banking business, in the latest attempt to simplify the conglomerate and concentrate on the best-performing segments.

Slicing off GE Capital began with the sale of Capital's real-estate assets -- a hodgepodge of factories, commercial loans, and apartment complexes -- for $26.5 billion. Wells Fargo bank and private equity firm Blackstone bought the bulk of that for $23 billion, the companies said.

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