GE to Sell Australia, New Zealand Commercial Lending and Leasing Portfolios to Sankaty Advisors; Terms Not Disclosed

GE

has reached an agreement to sell GE Capital's Commercial Lending and Leasing portfolios in Australia and New Zealand (A&NZ) to Sankaty Advisors, the global credit affiliate of Bain Capital, advised and partially financed by Deutsche Bank. The transaction includes about US$1.7/A$2.4 billion in ending net investment (ENI). Terms of the transaction were not disclosed. During the past eight months, GE Capital has signed agreements to sell four A&NZ consumer and commercial financing businesses, including today's transaction. All transactions are expected to close by the end of the first quarter of 2016, subject to customary regulatory and closing conditions. "Combined, these transactions total about US$9/A$12.6 billion