KKR, Värde Partners, Deutsche Bank to Buy GE Unit for A$8.2B
March 17, 2015
KKR, Värde Partners and Deutsche Bank have entered into an agreement to acquire GE Capital's Australia and New Zealand Consumer Lending Business at an enterprise value of A$8.2 billion ($6.3 billion). Serving over 3 million customers, the business offers a range of services and products including personal loans, credit cards and interest-free retail finance. The sale is the latest move from GE as it continues to shrink its consumer finance business to focus on core operations; it has already completely or partially sold its consumer business operations in Japan, Turkey, the Nordic region, Eastern Europe and the U.K.
GE Capital (Australia and New Zealand Consumer Lending Business)