Bank of Montreal ( BMO ) is to purchase GE Capital '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 $ 11.5bn at the end of 2016 . The deal is expected to close in the first quarter . This is part of General Electric 's ongoing strategy of reducing the size of its financial business through the sale of most of the assets of its GE Financial division .
Bank of Montreal (BMO) is to purchase GE Capital'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 $11.5bn at the end of June. The deal is scheduled to close in the first quarter. This is part of General Electric's ongoing strategy of reducing the size of its financial business through the sale of most of the assets of its GE Capital unit.