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GE Files for IPO of North American Retail Finance Business

March 13, 2014, 07:23 AM
Filed Under: Industry News

GE announced today that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering (IPO) of its North American Retail Finance business. As previously announced, the IPO is the first step in a planned staged exit from that business. GE currently expects to complete the IPO later in 2014. After completion of the IPO, GE Capital Retail Finance will operate under its new name, “Synchrony Financial,” and the registration statement has been filed under that name.

GE currently is targeting to complete its exit from the Retail Finance business through a split-off transaction in 2015. GE may also decide to exit by selling or otherwise distributing or disposing of all or a portion of its remaining interest in the business. The completion of the IPO and GE’s exit from the business are subject to market conditions and receipt of regulatory and tax reviews and approvals, which could delay the IPO or GE's exit from the business.

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