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Canadian Western Bank scooping up Canadian franchise finance biz from GE Capital
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Edmonton, Alberta-based CanadianWestern Bank (C$23.47 billion) is buying General Electric Capital Corp.'s Canadian franchise financebusiness, according to an April 7 news release.
The acquisition will include key employees as well as a balanceof loans of approximately C$350 million. GE Capital announced the sale in but did not name the buyer.
The deal is set to close during Canadian Western Bank's thirdquarter of fiscal 2016.