FAIRFIELD, Conn. – December 04, 2015 – GE (NYSE: GE) has signed an agreement to sell its equipment lending and leasing business in Mexico to Linzor Capital Partners, a leading pan-regional private equity firm that focuses on Latin American middle market investments. The transaction includes employees of the business and represents aggregate GE ending net investment (ENI) of approximately US$1.1 billion.

Linzor was founded in 2006 and currently holds investments in the financial, education, industrial, retail, and consumer finance sectors across Latin America. In 2011, Linzor acquired GE Capital’s Trailer Fleet Services business in Mexico.

“We are pleased to sell our equipment finance business in Mexico to Linzor, a leading private equity firm that we know well and is fully committed to investing and growing in the Latin American financial services industry,” said Keith Sherin, GE Capital chairman and CEO. “Linzor values our domain expertise and customer relationships, which is a testament to the hard work of our GE Capital teams in Mexico.”

As previously announced, GE is embarking on a strategy to focus on its high-value industrial businesses and is selling most GE Capital assets. GE and its Board of Directors have determined that current market conditions are favorable to pursue disposition of these assets. GE will retain the financing verticals that relate to GE’s industrial businesses.

When completed, this transaction will contribute approximately US$0.1 billion of capital to the overall target of approximately US$35 billion of dividends expected to be paid to GE under this plan (subject to regulatory approval). With the transaction, the total ENI for 2015 announced sales is about US$146 billion.

“We are pleased with the progress we are making to reach and close agreements for our businesses and assets,” concluded Sherin. “This transaction signifies our final slated sale in Mexico, but we remain committed to the market and our customers through our GECAS, EFS and Healthcare Equipment Finance businesses.”

The transaction is subject to customary regulatory and other approvals and is expected to close at the end of the first quarter of 2016. Citigroup Global Markets Inc. provided financial advice and Gibson Dunn & Crutcher LLP and Creel, García-Cuéllar, Aiza Y Enriquez, S.C. provided legal advice.