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GE closes sales of commercial lending, leasing businesses in Japan, Mexico

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GE closes sales of commercial lending, leasing businesses in Japan, Mexico

GeneralElectric Co. said April 1 that it the of its commercial lendingand leasing business in Japan, including capital finance, fleet services andvendor finance, to SumitomoMitsui Finance & Leasing Co. Ltd.

Additionally, GE completed the saleof its Mexican equipment lending and leasing business to Linzor CapitalPartners.

Combined, the two closings represent approximately $6.2billion in ending net investment and release approximately $800 million ofcapital, GE said.

GE Capital also signed and closed a number of smaller salesglobally, including the April 1 announcement to sell its majority stake in 's core bank toAlior Bank SA.

During the first quarter, General Electric Capital Corp. closed $42 billion oftransactions, including the completion of the $27 billion transaction related to theNorth America commercial lending and leasing business sale to .

The total closed transactions so far are now approximately$146 billion and signed agreements have reached more than $165 billion of the$200 billion in ending net investment that GE Capital plans to sell, thecompany said.

GE Capital believes it is on track to deliver about $35billion of dividends to GE under this plan, subject to regulatory approval.

Sumitomo Mitsui Finance & Leasing is a member ofSumitomo Mitsui Financial GroupInc.