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GE Said to Near Canada Deal for Private-Equity Lending Unit

June 08, 2015, 08:08 AM
Filed Under: Industry News

Bloomberg reported GE. is poised for a $12 billion deal as soon as Monday to sell more than half of its U.S. private-equity lending arm to Canada Pension Plan Investment Board while Ares Management LP seeks to buy the rest of that business, people familiar with the matter said.

According to the Bloomberg report, Ares is pursuing a deal for the $8 billion Senior Secured Loan Program it co-manages with GE, said the people, who asked not to be identified because the details aren’t public. The Bloomberg reports states GE is close to an accord to sell the other $10 billion in assets in the buyout lending unit to Canada Pension after Ares balked at including Senior Secured, the people said. Canada Pension would pay about $12 billion, chiefly for the GE Antares division, they said.

Read the full Bloomberg report - GE Said to Near Canada Deal as Ares Seeks Other Loan Assets

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