Mitsui picks up GE's European sponsor business

Following the deal, GE has retained its $1bn investment in the European Senior Secured Loan Programme and European Loan Programme, both joint ventures between GE Capital and Ares Capital.

The deal comes as part of GE's plan to sell off most of the assets of GE Capital. Since embarking on this strategy, GE has sold off $1.2bn of loans in its UK home lending portfolio, its $8.6bn global fleet services business and its $11bn US sponsor finance business, which was sold to Canada Pension Plan Investment Board.

Bank of America Merrill Lynch and Citigroup Global Markers provided financial advice to GE on the deal, while Clifford Chance provided legal advice.

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• Topics
• Financing
• GE Capital