GE in talks to sell lending, leasing portfolio to Wells Fargo: source

April 20, 2015 4:39 PM

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GE in talks to sell lending, leasing portfolio to Wells Fargo: source

(Reuters) - General Electric Co is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.

Other parties may also hold talks with GE about buying the entire U.S. CLL portfolio, the source said. GE is also exploring selling the U.S. CLL portfolio piecemeal and could decide to break the business up, the source added.

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