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Reuters reported that General Electric is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.
According to the Reuters report, GE is also exploring selling the U.S. CLL portfolio piecemeal and could decide to break the business up, the source added. The source asked not to be identified because the talks are confidential. GE and Wells Fargo declined to comment.
To read the entire Reuters article - "GE in Talks to Sell Lending, Leasing Portfolio to Wells Fargo", click here.