TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research and Innovation
  • Security
  • More Topics
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • |
  • About
  • Contact
  • |
  • Connect with us
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research & Innovation
  • Security
  • Connect with TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Industry Announcements

Tracker

GE to sell Mexican equipment lending and leasing platform to Linzor Capital Partners

Via General Electric Newsroom

Dec 4, 2015

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.

Related Topics
  • Contract Award,
  • Device Software & Apps,
  • Digital Platforms and Services,
  • Finance & Banking,
  • Latin America,
  • News,
  • Retail,
  • Tracker

More Like This

Digital Platforms and Services

HOPE Hydration taps T‑Mobile to power “smart” water refill stations

Jun 7, 2023

The Green Network

Globe promotes circularity with launches of recyclable and upcyclable packaging

Jun 7, 2023

Security

Cisco showcases vision to simplify networking and securely connect the world

Jun 7, 2023

Access Evolution

Nokia and Du deliver residential broadband services over fixed-wireless access

Jun 7, 2023

Security

Nokia Threat Intelligence Report finds malicious IoT botnet activity has sharply increased

Jun 7, 2023

This content extract was originally sourced from an external website (General Electric Newsroom) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Sign up to receive TelecomTV's top news and videos, plus exclusive subscriber-only content direct to your inbox.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

1:17:33

From telco to techco: The impact of next-gen operations on skills, talent acquisition and retention

1:14:31

Achieving maximum operational efficiency: How service providers can best operate at speed and scale

1:14:20

Why data and APIs are key to implementing the vision of the digital services provider

TelecomTV
Company
  • About Us
  • Media Kit
  • Contact Us
Our Brands
  • DSP Leaders World Forum
  • Great Telco Debate
  • TelecomTV Events
Get In Touch
[email protected]
+44 (0) 207 448 1070
Connect With Us

  • Privacy
  • Cookies
  • Terms of Use
  • Legal Notices
  • Help

TelecomTV is produced by the team at Decisive Media.

© Decisive Media Limited 2023. All rights reserved. All brands and products are the trademarks of their respective holder(s).