Will GE Stock Be Assisted By $9 Billion Health Care Financing Unit Sale?

August 21, 2015 Nemes Finance

New York City (TheStreet)– GE (GE – Get Report) shares are down 0.97 % to $25.46 in early market trading on Wednesday after the company revealed late yesterday that it would sell its US health care finance unit to Capital One Financial (COF).

The Fairfield, CT-based business offered the system for about $9 billion to the credit card lender in an offer that it anticipates to close in the fourth quarter.

The move is a part of the business previously announced strategy to divest about $100 billion in financial assets by the end of the year.


Comments are currently closed.