GE Holds Talks With Sovereign Funds for Finance-Assets Sale - Bloomberg Business:
"General Electric Co. has held talks with “a broad geographic spectrum” of sovereign wealth funds as part of the effort to sell the bulk of its lending business, Chief Financial Officer Jeff Bornstein said.
“We’re tracking every expression of interest inbound,” Bornstein said Friday in a telephone interview, declining to identify any suitors beyond saying that they included sovereign investors, banks, private-equity firms, hedge funds and insurers. “We have multiple, multiple pages of names. I think this is going to be very competitive.”
GE and its advisers have spoken to sovereign funds in Europe -- including Norway’s $882 billion vehicle -- as well as the Middle East and Asia to gauge potential interest in the GE Capital assets, according to people familiar with the matter. A representative for the Norwegian fund declined to comment."
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