#SMFG agrees to buy #GE’s #Japan leasing business for $4.8 billion

The logo of US conglomerate General Electric is pictured at the company's site in Belfort

#Sumitomo #Mitsui Financial Group Inc. agreed to buy #GeneralElectric’s #Japanese leasing business for $4.8 billion, the two companies said on Tuesday.

The deal is part of #GE’s plan to sell off the about $200 billion worth of assets of its finance arm, GE Capital, as the #US conglomerate moves away from finance to focus on manufacturing industrial equipment.

Read more at: http://www.msn.com/en-za/money/topstories/smfg-agrees-to-buy-ges-japan-leasing-business-for-dollar48-billion/ar-BBnzaVn

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