Auckland: GE Capital's New Zealand Equipment Finance business has acquired over NZ$100 million of commercial loan assets from Face Finance Limited, a subsidiary of South Canterbury Finance.
The deal consolidates GE Capital's position as a specialist financial service provider and complements its equipment finance offering in the New Zealand market.
New Zealand General Manager, Equipment Finance, Mitchel Booth, said: "This transaction builds on our history in New Zealand and will continue the strong growth our business has experienced over the past few years.
"The acquisition of these assets will expand our customer base as we continue to provide dedicated financing solutions for the heavy equipment needs of the construction, transport, forestry and aviation industries.
"Face Finance customers will be able to take advantage of our specialist products and services, and benefit from better access to capital via our competitive financing."
Katie Lennon
Corporate Communications Leader
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+61-2-9324-7095
+61-(0)-406-316-907