CREDIT CRASH
Bargain! Real estate unit not included in the deal GE take corporate finance,equipment,finance,franchise,energy and healthcare finance units.
Deal "will add more than $10 billion in assets and $5 billion in commitments to GE Capital Commercial Finance’s base of $260 billion" also Neal of GE says units “are in
industries we know well, so the potential for growth is compelling". Thain said deal would enable Merrill to redeploy "approximately $1.3 billion of capital into other parts of our business,” Which is quite useful if you've had a challenging year.
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Deal "will add more than $10 billion in assets and $5 billion in commitments to GE Capital Commercial Finance’s base of $260 billion" also Neal of GE says units “are in
industries we know well, so the potential for growth is compelling". Thain said deal would enable Merrill to redeploy "approximately $1.3 billion of capital into other parts of our business,” Which is quite useful if you've had a challenging year.
1 Comment Add this link to... Bury
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Comments
Its a sensible move since Merrill need to get something onto the balance sheet, especially as Q4 subprime bad news approaches.For GE's part they just get the decent units.