FAIRFIELD , Conn., Oct. 13 (UPI) -- In a $32 billion deal, General Electric Co. announced Tuesday it will sell the remainder of its commercial lending and leasing business to Wells Fargo & Co.
The sale divests GE of the largest remaining part of GE Capital, its finance division. While it reliably accounted for half of GE's profits, its risks have concerned investors and tamped down GE stock.