GE to sell consumer lending unit in $6.3B deal

Posted online March 16, 2015 | 6:38 am

General Electric has agreed to sell its consumer-lending business in Australia and New Zealand to a group of investors in a deal valued at roughly $6.3 billion.

The buyers of GE Capital include Minneapolis-based global investment firm Varde Partners, investment firm KKR & Co. and DeutscheBank, according to USA Today.

The consumer-lending company provides roughly 3 million consumers in Australia and New Zealand personal loans and credit cards, along with financial services for major retailers.

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