The purchase price wasn’t disclosed, though BMO said the business being acquired had net earning assets of about $8.7 billion at June 30 and that the final price would be based on the value of those assets at closing, plus an unspecified premium. 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 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 .