GE to sell equipment lending and leasing business in Mexico for $1.1 billionStaff writer ▼ | December 5, 2015
GE has signed an agreement to sell its equipment lending and leasing business in Mexico to Linzor Capital Partners, a pan-regional private equity firm that focuses on Latin American middle market investments.
Selling Linzor Capital Partners is to buy from GE
Linzor was founded in 2006 and currently holds investments in the financial, education, industrial, retail, and consumer finance sectors across Latin America. In 2011, Linzor acquired GE Capital’s Trailer Fleet Services business in Mexico.
GE is embarking on a strategy to focus on its high-value industrial businesses and is selling most GE Capital assets. GE and its Board of Directors have determined that current market conditions are favorable to pursue disposition of these assets.
GE will retain the financing verticals that relate to GE’s industrial businesses.
When completed, this transaction will contribute approximately $0.1 billion of capital to the overall target of approximately $35 billion of dividends expected to be paid to GE under this plan subject to regulatory approval.
With the transaction, the total ENI for 2015 announced sales is about $146 billion. ■