General Electric Sells Off Its Finance Units; Investors Receives $90 Billion Return

April 12, 2015 6:20 AM

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General Electric (GE) kicked off the announcement on Thursday with the sale of its real-estate assets — a hodgepodge of factories, commercial loans and apartment complexes — for $26.5 billion. The step will certainly be moneyed by $35 billion with money returned from GE Capital. The repurchase will certainly be the second-biggest in record, just behind a $90 billion strategy by Apple. GE intends to minimize its complete impressive shares from 10.06 billion to 8-8.5 billion by 2018. Shares of GE leaped 8.5 percent on the information.

Wells Fargo bank and private equity firm Blackstone bought the bulk of that for $23 billion, the companies said. GE assumed today it is selling the bulk of its GE Capital banking business in its latest attempt to simplify the conglomerate and concentrate on the best-performing segments. GE will tak...

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