GE Capital completes sale of shares in GE Capital Interbanca
GE announces that it has sold its shares in GE Capital Interbanca S.p.A in Italy to Banca IFIS S.p.A. This transaction represents ending net investment, or ENI, of approximately $3.6B as of the end of the third quarter 2016, GE reported. As previously announced, GE is focusing on its high-value industrial businesses and is selling most GE Capital assets. GE will retain the financing verticals that relate directly to GE's industrial businesses. Since the announcement in April, 2015, GE Capital has signed agreements for the sale of approximately $195B of businesses and has closed approximately $186B of those transactions, including this one. GE Capital plans to have largely completed the process of selling approximately $200B of GE Capital businesses not linked to GE by the end of 2016, the company said. GE Capital believes it is on track to deliver about $35B of dividends to GE under this plan, subject to regulatory approval.