STAMFORD, Conn.--(BUSINESS WIRE)--Nov. 29, 2002--GE Commercial Finance announced today it has completed its acquisition of the structured finance business of ABB.
ABB and GE Commercial Finance had entered into a definitive agreement for GE Commercial Finance to purchase the Structured Finance business on September 4, 2002.
The ABB structured finance business includes global infrastructure financing, equipment leasing and financing businesses. These operations serve customers principally in Europe and the United States.
ABB's structured finance businesses will become part of three units of GE Commercial Finance: GE Structured Finance, GE European Equipment Finance and GE Vendor Financial Services.
About GE Commercial Finance
GE Commercial Finance offers businesses of all sizes an array of financial services and products worldwide. With more than $180 billion in assets, and a particular expertise with mid-market companies, GE Commercial Finance provides loans, operating leases, financing programs and innovative structured capital to help customers grow. It also offers loans and financing leases for major capital assets, including transportation financing solutions; industrial facilities and equipment, and infrastructure-related facilities; commercial and residential real estate loans and investments; and loans to and investments in public and private entities in diverse industries. GE Commercial Finance is headquartered in Stamford, Connecticut. GE is a diversified services, technology and manufacturing company with operations worldwide.
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