GE to sell leasing business in Japan to Sumitomo for $4.7B

December 15, 2015 3:44 PM

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The leasing unit of Sumitomo Mitsui Financial Group said Tuesday it has agreed to buy General Electric’s leasing business in Japan for about $4.74 billion, the latest deal in GE’s efforts to dismantle its GE Capital banking business.

Sumitomo Mitsui Finance and Leasing will buy three business lines run by GE’s leasing operation in Japan – equipment/asset, small ticket leasing, and automotive.

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