Bank of Montreal (BMO ) is to purchase General Electric's transportation finance business in the United States , the largest financier to the commercial truck and trailer segment in North America , which had net earning assets of $ billion-dollar at the first quarter . The deal is scheduled to close in the end of June . BMO, Canada’s fourth-largest bank by assets,... This is part of GE Capital's ongoing strategy of reducing the size of its financial business through the sale of most of the assets of its GE Capital unit.
Bank of Montreal (BMO ) is to purchase General Electric's transportation finance business in the United States , the largest financier to the commercial truck and trailer segment in North America , which had net earning assets of $ billion-dollar at the first quarter . The deal is scheduled to close in the end of June . This is part of GE Capital's ongoing strategy of reducing the size of its financial business through the sale of most of the assets of its GE Capital unit.