GE Selling Fleet Units in $6.9 Billion Deal

June 29, 2015

General Electric Co. (GE), agreed to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial Corp., in a $6.9 billion deal, reports The Wall Street Journal.

The company also signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a fully-owned subsidiary of BNP Paribas.

GE Capital sold its Canadian fleet business to Element Financial in 2013.