GE TO SELL MAJORITY OF GLOBAL FLEET BUSINESS TO ELEMENT FINANCIAL CORPORATION AND ARVAL

FAIRFIELD, Conn. – June 29, 2015 – GE [NYSE:GE] announced today that it has reached an agreement to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial Corporation (TSX:EFN) for US$6.9 billion. Separately, GE has signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a fully owned subsidiary of BNP Paribas. Arval and GE will now consult with their respective works councils.

from GE Capital: Fleet Services http://ift.tt/1g21Z3i

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