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Sumitomo Mitsui Banking Corporation Europe $2.2 billion acquisition of GE Corporate Finance Bank

1/7/2015
Public acquisition
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$ 2.2 billion

Completed

1/7/2015

Overview:

  • Sumitomo Mitsui Banking Corporation Europe has acquired GE Capital's sponsor finance business - GE Corporate Finance Bank - for $2.2 billion.
  • The deal is part of GE's global sell off off assets as it looks to divest its financial services operations.
  • In 2015 alone the firm intends to sell over $100 billion of assets with $200 billion as an overall target for the strategy.

Sam Duke - Editor

Jurisdictions:

United States
France
United Kingdom

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Banking

Firms:
Clifford Chance

Party: GE Capital (Seller)

Lawyers: Frédérick Lacroix, Mathieu Remy, Nicholas Rees

Linklaters

Party: Sumitomo Mitsui Banking Corporation (Acquirer)

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