GE in $11m loans portfolio deal

Monday 17 May 1999 00:02 BST

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GE in $11m loans portfolio deal

GENERAL ELECTRIC'S financial services arm is to buy Long Term Credit Bank of Japan's $11bn US commercial loan portfolio. GE Capital Services, the world's biggest non-bank financial services company, said the deal will be completed by December. This follows its purchase in January of $6.5bn in assets from Japan Leasing, an affiliate of the bankrupt LTCB.

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