GE Sells Consumer Branch

By David Norton

TOKYO: General Electric will sell its Japanese consumer finance operation to Shinsei Bank, people with knowledge of the deal said, as the U.S. conglomerate looks to spin off large parts of its portfolio. Shinsei will pay 580 billion yen, or $5.4 billion, for the Japanese arm of GE Consumer Finance, said one of the people, all of whom would speak only on the condition of anonymity because the deal has yet to be announced.

TO READ MORE CLICK HERE