GE sells GE Capital unit for $26.5B

April 10, 2015 12:18 PM

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GE sells GE Capital unit for $26.5B

General Electric is selling most of the real estate and other remaining assets of its GE Capital unit, the financial arm which was once the largest part of the company.

The company said Friday expects to get $26.5 billion from various buyers, including Blackstone Group (BX)and Wells Fargo (WFC). But as an indication of the fall in value of those assets in recent years, GE (GE) will take a $16 billion after-tax charge related to the transaction.

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