GE Close To Selling $30 Billion In Loans To Wells Fargo: Report
General Electric Co. is close to selling about $30 billion in loans to Wells Fargo & Co. , according to Reuters late Friday, citing a source close to the matter. Wells Fargo has outbid others for GE's vendor financing, commercial distribution finance and direct lending assets, according to the report. The source said, however, that negotiations were ongoing and could still fall apart, according to Reuters. Recently, GE announced it agreed to sell its railcar leasing business to Wells Fargo for an undisclosed sum.
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