Who did GE sell GE Capital to?

The Boston-based conglomerate on Wednesday announced the deal to sell GE Capital Aviation Services, or Gecas, the largest remaining asset of the company’s once-colossal finance arm GE Capital, to AerCap. GE said it will take a 46% stake in the combined company and the deal will generate about $24 billion in cash.

What happened at GE Capital?

The company’s stock fell 42% during the year, and after Welch’s departure, it became clear that GE was overstretched and bloated. The GE Capital financial segment nearly toppled the company during the Great Recession because it did not have a competitive advantage over other financial services companies.

How much is GE Capital worth?

GE sells GE Capital unit for $26.5B. General Electric is selling most of the assets of its GE Capital unit.

What does GE’s sale mean for its financials?

The sale will free up some cash for GE to repurchase $50 billion of its shares, which helped move the stock. GE will hang onto some financial units used to support its remaining industrial business, such as its aircraft leasing unit and the parts of the business that finance sale of its energy and healthcare equipment.

Is General Electric selling its capital unit?

General Electric is selling most of the assets of its GE Capital unit. General Electric is selling most of the real estate and other remaining assets of its GE Capital unit, the financial arm which was once the largest part of the company.

What is Gege doing with its financials?

GE will hang onto some financial units used to support its remaining industrial business, such as its aircraft leasing unit and the parts of the business that finance sale of its energy and healthcare equipment. But it will now focus on industrial businesses, such as making jet engines and electrical turbines.