The Traderszone Network

Published in TZ Latest News 11 August, 2015 by The TZ Newswire Staff

GE to sell healthcare finance business to Capital One for $9 billion

Reuters reported last week that Capital One was in exclusive talks to acquire GE’s healthcare finance unit and that it had outbid other potential buyers in an auction for the unit. The size of GE’s finance arm — GE Capital — and the potential risk stemming from its lending portfolio has made it subject to government oversight. “This addition will catapult us to a leading market position in providing financial services to the healthcare sector,” said Michael Slocum, president of Capital One’s Commercial Bank.