Date: Tuesday 09 Jun 2015
LONDON (ShareCast) - General Electric has agreed to sell its private equity lending unit to Canada Pension Plan Investment Board for $12bn.
The group will dispose of its sponsor finance business, which includes private-equity lending business Antares Capital, and a $3bn bank loan portfolio to the pension fund.
The deal marks a big step in the industrial giant's move away from banking.
It follows reports the two companies were nearing a deal earlier in the week.
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