The Traderszone Network

Published in TZ Latest News 9 October, 2015 by The TZ Newswire Staff

Exclusive: GE nears deal to sell over $30 billion of loans to Wells Fargo – source

Wells Fargo has so far outbid other parties for General Electric’s vendor financing, commercial distribution finance and direct lending assets, the person with direct knowledge of the situation said on Friday. GE and Wells Fargo representatives declined to comment. The company unveiled its latest divestment agreement on Monday – for its North American corporate aircraft financing portfolio – bringing its total deals to date related GE Capital to $97 billion.