GE sells $3.7 bln UK home loan portfolio to Kensington Mortgage

September 16, 2015 2:18 PM

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Sept 16 General Electric Co said on Wednesday it had sold a $3.7 billion portfolio of loans from its British home lending business to private equity-backed Kensington Mortgage Co Ltd as it continues to shrink its financing arm, GE Capital.

The deal, GE's third loan portfolio sale this year, nearly halves the size of the company's UK home lending business to less than $7 billion, GE Capital Chief Executive Keith Sherin said in a statement.

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